Skip to content
Washington D.C. Real Estate Q&A Discussion Forum

User Stats

9
Posts
3
Votes
Daniel Friedman
  • New to Real Estate
  • Washington D.C., Washington D.C.
3
Votes |
9
Posts

Numbers help for Duplex in DC

Daniel Friedman
  • New to Real Estate
  • Washington D.C., Washington D.C.
Posted Nov 22 2019, 07:33

Hey everyone, 

I'm a longtime reader first time poster but I have been looking at my first duplex and wanted to some help with the numbers. I currently have a condo that I used to live in and rent now but this duplex would be my first jump into a purely investment property.

2 Unit rowhome in Washington DC (Top bottom). Unit 1 is 4 bed, 3 bath, and access to rear parking area. Unit 2 is 3 bed 2 bath. Unit 1 is currently vacant and Unit 2 has a tenant that is month-to-month. 

I am touring the place soon but from pictures it looks like there is good flooring and cosmetics but the kitchen and bathrooms are old and could be updated with new appliances. 

From talking with one of my mentors and doing some research on apartments.com and other listing sites, the belief is that I could get $4,300-$4,600 for Unit 1 and $3,300-$3,600 for Unit 2 which would give me a total rental income of $7,600-$8,200.

The list price is $1.3m. If I make some of the improvements I talked about in the kitchen and/or bathrooms, I may be able to raise rents more.

What do people think? Am I way off base with this?

    Loading replies...