Advice on a multi family duplex
Looking to get some advice from everyone.
I am currently looking at this duplex built in 2014.
1,765 per unit
Each unit is 3 bed 2.5 bath. Mirror image of each other.
Sellers asking price: $330,000
Annual propert tax: $2,616
Rehab needed: $5,000 (just paint)
Average area rent: $1,000-1,400
Thinking to set my rent at $1,100-1,200 monthly
Has been on the market for 364 days. Did a walk through with his realtor today. Property is is excellent condition. Brand new exterior paint. Has separate power meters, separate water meters, and separate gas meters.
I am thinking on offering at $280,000 and would just like to get some feedback. Numbers in the picture is quoted off the sellers asking price with 20% down and 4% interest rate.
Thank you!
Most Popular Reply
Sorry Sam, but IMO those numbers look terrible, especially if you are looking for great Cashflow. I can get the kind of rent you are looking at for something half the price, already rehabbed with tenants in place with PM in place here in KC where I do business. If you ever consider a different market let me know. I wish you the best of luck!