St. Anthony Idaho Deal
Hey,
I'm looking for interest in a duplex in St. Anthony, Idaho. They are 2 bed 1 bath units. The cost is $110,000 and the rents for each unit are at $550 each. That meets the 1% rule. The inside of the units look really good and the outside has been recently painted. The backyard needs some inexpensive work done. The current owners don't really keep track of their expenses very well but they have not been paying much into it. Assuming 25% expenses would put it at a 9% cap rate. There is a possibility that you could negotiate a seller finance as well. They have not had any problems with vacancy and they do not provide internet or any utilities to the tenants other than water, sewer & Garbage. I am still learning how to do all this stuff so even if you are not interested please comment and let me know what you think. What price would you take this at if not the $110,000? What else should I include in this post? Any advice or pointers will be greatly appreciated.
Thank You!