Updated over 4 years ago on . Most recent reply
Feedback on this Deal
Hi BP Fam!
I would appreciate any feedback on this deal in Texas. I'm under contract for a duplex 2310 sq ft total 3 bed 1 bath each unit. It needs some TLC. I had 2 contractors come and give estimates for repairs and they will be adding a full bathroom in each unit. Inspector came and was only able to do 1 unit because the tenant was not home. He will inspect the other unit 12/30/21. MLS says it was built in 1969 but inspector thinks it was 40's or 50's. I called county appraiser and left a message to find out.
Purchase price $285k
Finance price $242k Interest rate 3.75% 30 year fixed
Down payment $43k (15% of purchase price with no PMI )
Closing cost $8983
estimated repairs $30k
estimated rent each unit $1600-$1700
Total monthly payment
principal, interest insurance, taxes $1772