Rural 4plex with no comps
Question: I’ve identified a 4plex property in a small town (10,000) people. There are no comps in the area but I know this town is stable with many varieties of businesses making the economy turn.
The rents come in at 3100 total and the landlord pays utilities of $550/month when all units are rented.
I have all the leases and have verified rent amounts.
There are two much nicer and 2 bd 1 bath duplexs for sale in town on the market for $150k
How do I make a reasonable offer on the 4plex?
The owner has it listed for sale by owner for $154k
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Real Estate Agent Iowa (#S68402000)
- 515-612-6013
- https://dgrantham.kw.com
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