Should I buy this duplex?
I'm stuck in analysis peralisys and am trying to figure out if this is a good deal. I'm hoping some more experienced investors can give their feedback. Here are the details on the property:
Type: duplex (off market)
Price: $250,000
Down payment: 25%
Interest rate: 3.45%
Year built: 1995
Rent: $995 per unit (both are currently rented with a long term tenant of 4 yrs on one side)
Tax amount: $1,885
Insurance quote: $1,387
Condition: good (no renovations or make-ready costs necessary)
Location: Northwest Arkansas, good location only 6 minutes from a university
This is a fast growing market and properties seem expensive here, but I'd really like to find a deal here since it's near where I live. Any thoughts on this deal would be much appreciated!