Duplex gets $2,000 / mo. gross - what should I purchase for??
Does anyone know of a quick way to figure how much I should list a property that is fully rented and generating $2,025 of rent monthly? The taxes are around $2,000/yr and the both units were upgraded with new kitchen cabinets, appliances, 2 water heaters, tile and carpet throughout. The furnaces are old but were recently serviced. There’s even been repairs to the rear deck and a new front porch built. I believe the repair costs would be very little considering all that was done. I’ve even installed two washer / dryer units in the basement for use by the tenants at no charge.
I’m really trying to find a way to evaluate this deal before listing it for sale. The comps in the area don’t support anything over $100K, but I truly believe this property to be valued at much more. The reason to sell is so I can liquidate and move onto another larger building and do it all over again!