Analyzing a Property

[Tony Stancato]

I found an interesting property. On Zillow it's listed as a 4 bed 2 bath with 2,000 square ft. Closer look the description is 2 bed 1 bath home with 2 bed 1 bath apartment. It's listed for $90k. It does need some work. The cheapest rent I could find in the area was $695 and that was for a 1 bed 1 bath. 

The price per square ft is significantly cheaper than the other properties in the area. Seems like there could be an opportunity to rent them out for $700 - $800 per month. 

What else should I look at to analyze this property? It seems like it could be a property where some value could be unlocked, whether keeping it as two living spaces or moving it to one. 

[Jake S.]

@Tony Stancato Yeah so this is very similar to what I look for when I'm scouting for an apartment building for my investment group.

We look at:

• Schools in the area
• Shopping/Restaurants - if a walmart or brand name coffee shop is nearby its usually a good sign
• Crime rates (use trulia)
• Is the population trending or down?
• Vacancy rates

Always open to chat if you ever want to shoot me a message!