Duplex in Minneapolis

[Zach Navarro]

Hi everyone. Licensed agent wanting to do my own thing in real estate and help others. There is a duplex listed at $600k with tenants that want to stay and pay $1700/1800 for a total of $3500. The seller bought the duplex in 2002 for $335k. They have not done any repairs. I am willing to go in and offer $400k, 20% down. IRR would be about 11.5% if I can get it at my price. Key is that it's been on the market for 155days. No comps that justify list price. Any thoughts or advice? Thanks in advance.