Updated over 11 years ago on . Most recent reply
Seeking Input on 1BD/1BT Duplex
Hi everyone, seeking input on a deal for 1 bed/1 bath duplex. I am not too familiar with 1 bed/bath as far as desirability goes with investors, however the numbers break down as follows:
Price $38K, 11% down payment, Loan payment around $170/month.
Gross rents are $495 per side, total $990/month
W/S/T for each side is paid by owner and total about $130/month for BOTH sides
Mort./Ins/Taxes would equal about $350/month
Will manage myself.
Vacancy rates are pretty low.
I would say the area could be classified as a "C" market
Turn key, ready to go, however it is not occupied as the owner just had to evict(First time ever while under his ownership, did not do a background check) one side and the other side moved to the 1 bedroom house next door.
Owner is selling because he does not have time to manage the units. He owns a very large photography studio.
50% rule says that I may expect 155/month per door?
Looking for info from everyone, however for those of you who own 1BD/1BT duplexes, have they panned out for you? Vacancy rates above normal? Etc.