Simsbury, CT Small Duplex Deal Analysis

3 Replies

Hello BP,

Im closing on a small 1240 sqft duplex soon. The home is a town house style Brick one level 2 family. Each unit has 1 bedroom and is 620 sqft. Directly across the street there is the Farmington River and visable from the living rooms. The home is conveniently located close to restaurants, business, parks, and the highway. What attracted me to the property was that it has separate driveways so the tenants can do their own snow removal, it was built in 1964 and its a one level brick side by side duplex. I plan to renovate maybe 15k total to increase rents to 1000$ each. Please give your input and let me know how I did?!

Simsbury, CT

Location B++

Listing Price- $179,000                Water/Sewer- $110/Monthly Heat Source- Electric Baseboard (tenant paid)

Contract Price- $163,000             Garbage- $34/Monthly

Appraised Value- $180,000           Owners Electric- $22/monthly

Current Rent- $1300/ 650 each    Home Owners Insurance- $41/Monthly

Market rent- $1750/ 875 each      Taxes- $3,924/ Yearly

After Rehab Rent $2000/ 1000 each 

Interest Rate- [email protected] 30 years 

Down Payment 25%

@Patrick Sheridan , yeah, gotta think those are pretty well below market right now. A few things to think about:

  • What's on the owner meter? Weird that there would be one at all.
  • What about landscaping? Is that on the tenants?
  • $110 looks high for the water/sewer. I usually figure $30-40/unit/month.
  • Anyway you can get town trash service with a duplex? For taxes that high, you should.
  • You're near the river. Do you need flood insurance?
  • What are you doing with the $15k renovation budget?

I think you need to do a full rental analysis to see what your cash flow is going to be like. Don't forget to account for Repairs, CapEx, Management, Vacancy, Pest Control (if needed) and a little something to cover admin. costs (like advertising a vacancy, tax prep fees, LLC fees, etc.).

If you post your full analysis and tag me, I'm happy to take a look.

Originally posted by @Jaysen Medhurst :

@Patrick Sheridan, yeah, gotta think those are pretty well below market right now. A few things to think about:

  • What's on the owner meter? Weird that there would be one at all.
  • What about landscaping? Is that on the tenants?
  • $110 looks high for the water/sewer. I usually figure $30-40/unit/month.
  • Anyway you can get town trash service with a duplex? For taxes that high, you should.
  • You're near the river. Do you need flood insurance?
  • What are you doing with the $15k renovation budget?


I think you need to do a full rental analysis to see what your cash flow is going to be like. Don't forget to account for Repairs, CapEx, Management, Vacancy, Pest Control (if needed) and a little something to cover admin. costs (like advertising a vacancy, tax prep fees, LLC fees, etc.).

If you post your full analysis and tag me, I'm happy to take a look.

There is a owners meter for the Sump pump and dehumidifier in the crawl space

I live in the area so I will take care of the Lawn mowing and snow removal

Disclosures state water is 556$ per year and sewer is 720$ per year. 1276$ total or $106.3/MO

Trash in the area is private, not included in taxes

Flood insure is not required, that was the first thing I checked before bidding

15k renovation- roof+gutters-7k, reglaze bathroom tile/shower, install new toilet and vanity, new light fixtures throughout, new LVP throughout, paint walls grey, add trim to kitchen cabinets and paint white, replace kitchen sink and small countertop with granite, replace appliances with stainless steel. budget will probably exceed 15k. More like 20-25k total for both units and the roof.      


Here is the rental property analysis                                      

https://www.biggerpockets.com/...