Las Vegas, NV · Member since 2014 · 6 posts · 1 vote
I have a 5br/4ba 2700sqft house. It has had a steady renter for the past 4 years (never been vacant). It rents for $1600/mo and comps somewhere in the ~$275k range. Would something like this be appealing to investors, and if so, what is it worth?
I am not sure how anyone could really answer that based on the information given. Personally I could never make that work in my area unless I could buy it for $150,000. But I have no idea where this is, what could be done with it, etc.
It's probably not going to interest investors at $275K. Almost all investors demand more income for their dollar. You are probably better off listing it to sell it retail to an owner occupant.
Those numbers are not going to interest "turn key" investors. You might want to check the rental price. Most areas have greatly increased in rental price the last 4 years.
Thank you for the replies. I am right at about the sweet spot with my rent in that area. It rented in one day and has been rented to the same family for the past 3 years. I imagine they are there to stay and I am not unhappy with the situation. It was just a way creating more capital to roll into new things.
I will leave it alone, and use different money for my new ventures. I am excited to start building up a nice portfolio.
You might get $200k from an Investor based on the existing rental income. The value is too high for a rental, so your best way to sell it for highest price is move out the tenant, clean it up to at least a presentable standard and offer it to the open market at comp rate. Talk to a Realtor, I can recomend a few if you need one.