So we won in auction our first investment property. It's a duplex in Northeast Ohio, set on 5 acres in the country. It sits about 500 feet off the road and it's pretty quiet.
Each side is 3 bed / 2 bath. In the basement of the left side, three MORE bedrooms were built before we bought the property, but they can very well be offices or "man-caves" etc. On the right side of the duplex there is just 1 extra room in the basement.
Each side also has all appliances minus dishwashers, hardwood/laminate floors besides carpet in the bedrooms that we just replaced, and wood fire fireplaces.
We are wondering how much we should be charging for this, because it's not quite a normal city duplex. They have a decent sized yard, and a huge porch on the front and back.
By the end of getting it ready to rent out, we will have ~90k invested total.
Any help on this matter would be greatly appreciated.
Im guessing the property is in Garrettsville which is a pretty sparsely populated area so you may be hard pressed to find any comps but have you checked craigslist and zillow for any rental comps?
No I haven't. I was hoping someone has owned something like this before. I'll start searching.
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