SFH for rental analysis
4br 2.5 bath. 1860 sf built in 1994 listed at 284k
needs roof and new siding(hardie plank) most likely
listed on zillow at 300k and i know zillow can vary form rgion to region but where I live, the zillow price is pretty damn accurate fom what ive seen.
Im looking to buy cash, what offer should I put in? I dont want to go too low, then they won't respond. I want something close enough to where we can meet in the middle and I can buy for like maybe 250k or lower.
Most Popular Reply
Kevin I lived in Oklahoma City for 11 years and have 15 rentals there. What part of the city is the house in. That can make a big difference. My own personal residence is valued at $305,000 and rents for $1995 a month. However it's the worst performing house I own. You can buy houses very cheaply in OKC and I would look at something much cheaper there that would give you a much better cash flow. You could buy two houses for that price in a decent neighborhood and probably get $2600 in rent. By the time you put a new roof on you will have spent a lot of money.
I don't usually buy houses in that price range but I bought a triplex in April for $30,000 put $23,000 into it and get $1220 in rent a month.
Just my 2 cents.
Sara