Simsbury, CT Small Duplex Deal Analysis

[Account Closed]

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- 3.875@ 30 years 

Down Payment 25%