Duplex Good or Bad deal review
Hey BPers,
I am a new investor. I have putting in an offer on a property and I am just asking for another set of tenured eyes. All feedback is appreciated.
Area is experiencing gentrification and growth of including jobs and city density.
Lynchburg VA
Duplex roof is good for another 13yrs. HVAC is 5yrs old Plumbing is good unsure of the age.
Purchase 88k
Loan FHA 3.5% down
bed/bath 2/1 each side
Side 1 is currently rented for $440 (below market) by $45 for the size
Side 2 I will be living in with a roommate and room rent is $330 (median market for a room for the size)
Side 2 COMPLETELY RENTED will be $675 (median for market)
Owner pays near $180 for water a month and tenants pay the rest of the utilities
with mortgage, insurance, taxes, fees, monthly payment to own the property is $611.87
I am really just trying to cover all of my bases right now.
Good deal or Bad deal.
Thank you BPers