Duplex in Indianapolis- Good deal?
BP Fam!
I am considering a Duplex in Indianapolis and wanted to get your thoughts. Here are the numbers:
Purchase Price 89K
2x 3/1.5 1220 Square feet each
Fully Rented: Gross Rents 1300, 650 each
Fully rehabbed
Market Value, 97k (But I am suspect of this, can't find anything in research to justify this price)
It is in the 46205 zip code "Historic Irvington".
Is this a good neighborhood? (I checked neighborhood scout and see high vacancy rates). Numbers are "ok". I am considering putting in an offer lower than purchase price.
Thank you for the feedback!