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Updated over 8 years ago on . Most recent reply
Is this a deal? Memphis / Union City
Hey if you have some time would you look at this deal? To see if it's a deal.
I received comps from a realtor in the area that show an average sp/sft of $25.4 for SFRs in the area. The property is a 1757sq/ft duplex built in 1967 with an ARV of $44,627.8 for the property. The market rent according to Rentometer is $555 per door in that area. For a gross annual income of $13,320. That's a 29.85% gross return for the property if purchased at full value with no repairs to either unit.
As is, I have negotiated the seller to $25,000 and in all honesty I believe I could get him down to the $23,000 as they want to sell within the month . What have I missed? The deal looks too good.
Cosmetics and carpet are the repairs suggeste
I received comps from a realtor in the area that show an average sp/sft of $25.4 for SFRs in the area. The property is a 1757sq/ft duplex built in 1967 with an ARV of $44,627.8 for the property. The market rent according to Rentometer is $555 per door in that area. For a gross annual income of $13,320. That's a 29.85% gross return for the property if purchased at full value with no repairs to either unit.
As is, I have negotiated the seller to $25,000 and in all honesty I believe I could get him down to the $23,000 as they want to sell within the month . What have I missed? The deal looks too good.
Cosmetics and carpet are the repairs suggeste
Most Popular Reply
Who knows the area? The zip code is 38216. Does 555 sound like a good rent estimate?