Updated almost 5 years ago on . Most recent reply
Help Me Review this Deal - Unique 2 properties on one lot
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This property is really unique. Its 2 houses on 2.4 acres in a rural part of southern Vermont. The land is absolutely beautiful, complete with pond, gazebo, multiple decks and patios. 4 car attached garage and it won't need a capital improvement for 10 years when we would put a new roof on it and most likely add solar panels.
The deal analysis shows that it is cash flowing at -$1050 per month, but since we would be house-hacking the house, and also work-hacking the house, I'm having a hard time deciding if its a good deal or not. We would be paying $1000 per month for a 3 bedroom 2 bath house that will appreciate in value, and we could eventually move out and rent the whole house and that would give us a + $1000 cash flow per month. There is also opportunity to make the units in the duplex cash flow more, one of them is an ideal Airbnb that would get $150 per night in this market, and the downstairs unit has an attached garage that we could turn into another bedroom.