Updated over 6 years ago on . Most recent reply
Please Help Me Analyze This Duplex Deal
Hello,
I received this pocket deal from a realtor. I went to see the property today. It's in a great neighborhood. Rent would be $600 for 1br nd $800 for 3br. But the 1br unit needs about $7500 in renovations. It's currently rented but the renter will be out in a month. There is another year on the lease of the 3br. Original asking was for 100k. He doesn't want to go any lower than $85k. I'm running the numbers and this is what I came up with. My partner likes the area, thinks renovations are reasonable...it's near major medical hospital, which is the biggest thing in the area. The area is a mix of rentals and SFH. But for me...I don't want to compromise on the numbers. It's close to 12% cash on cash, but the cash flow is a bit low for me. Thanks for your help!
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