First of all, I really appreciate you for taking out your valuable time to read my post.
I need a favor to understand your perspective for a rental property.
I am just starting out in real estate and was evaluating a rental property(duplex) which is 1920 built & is having monthly cash flow of $400 andCOCROI as 16%. My biggest concern is with the age of property? Kindly help me with your wisdom.
It’s a semi-detached 2 unit has a new boiler, new hot water heater, vinyl replacement windows, brand new exterior doors, completely renovated 1st floor- 1 bedroom unit - features a living room with a fireplace and granite in the kitchen, ducted for central A/C.
The 2nd floor-2 bedroom unit has central A/C.
There is W/D hook up in the basement, and also a W/D hook up for the upstairs unit (would need stacked small unit to fit into space).
If the property has lasted for 100 years there is a good chance it can last for 50-75 more if maintained.
In my area old houses are very common and just the standard investment.
The main things to check out in old houses are wiring, plumbing, and foundation.
@Carter Crowley thanks a lot, i will verify the listed items.