Multi-Family and Apartment Investing

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Shawna WImpy
  • New to Real Estate
  • Newport News Va
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Early analysis $500+ cash flowing duplex

Shawna WImpy
  • New to Real Estate
  • Newport News Va
Posted May 15 2022, 11:41

I found this duplex, 2016 Pond Lane, Chesapeake, Va on Zillow that looks to be cash positive with a rehab budget of 70k.  After a year of tinkering I'm now getting serious...but not in a position to take advantage of this opportunity.  If someone does purchase this property due to this tip, I ask that you contact me and allow me to discuss your analysis vs mine.   

Thanks,

Shawna

Chesapeake, Virginia

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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
Replied May 16 2022, 08:05

I used to manage a duplex just like this on Pond until it sold.  It wouldn't be anywhere near $70K to get these units into rentable condition. Looks like it was listed 6 days ago for $155K.  It's a decent price for a brick duplex in Chesapeake, even if it does need a little work.