Buy Duplex on Busy Street?
Hey guys,
I've found a duplex for sale that looks like a good deal after analyzing with the BP calculator with conservative estimates on vacancy, maintenance, capes, PM etc.. Good cash flow, CoC ROI, passes the 1% test. Also has not been updated since it was built and I am confident I'd be able to make some improvements and create some forced equity. Currently has tenants renting on both sides. I've driven by it and will be seeing the property in person in a couple days with my agent.
But, it is located on a pretty busy road. It does lie within a school zone which has stricter speed limits, but those are only certain times of day. I can’t help wonder if this would make some investors hesitate in purchasing the property. Would this make it difficult to resell if I needed to? Any thoughts, comments, advice would be greatly appreciated! Thanks!
It's already fully rented. People are obviously willing to rent there.