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Real Estate Deal Analysis & Advice

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Val J.
  • Rental Property Investor
  • DFW
35
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89
Posts

Duplex Do or Don't

Val J.
  • Rental Property Investor
  • DFW
Posted Mar 10 2015, 23:42

I have an opportunity to buy a duplex 1bd 1 ba each side for 35k. I plan to live on one side and there are tenants on month to month leases on both sides. Being a newby I don't understand how to determine whether this would be a good buy for me. I'm ready to downsize and live in a a smaller place but did'nt want to buy a condo because of the perpetual hoa fees. The property is in Dallas, TX bult in the 1950's. According to Zillow it has a Zestimate of $42,481. It will need a little work done on it. Not exactly sure of the exact dollar amount. Appear, from my inexperience eye, to need a roof. One tenant shared that she is paying $350 + 50 for water.  The othe tenan mumbled something about $200. Both appear to  be paying below market.  The mumbling tenant's unit has water damage revealed by the bubble in the sheet rock in the ceiling.  Seller has not provided the disclosure,  Help.  Should I buy or say bye.

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