Hello, I'm soon to close on my first property, and I would like some insight on whether it was a good deal or not.
Property is a duplex located in South Hills area of Charleston, WV. I will be House Hacking.
Sale Price is $180,000. Upstairs is 1,000 sqft 4 bed, 1 bath. Downstairs is 1,000 sqft 1 bed, 1 bath (I plan to add a bedroom before I move out.)
I will be inheriting the upstairs tenant and living downstairs. Upstairs currently rents for $1,200, which I believe is under market value. Bottom should rent for >$900.
Home is in good shape, new roof recently, hefty upgrades to electrical and brand new furnace. With taxes and insurance, I should be all in for less than $1400 per month.
Was this a good deal? I'm brand new to investing and I'm not sure.
Real Estate Agent · Worcester, MA · Member since 2022 · 107 posts · 48 votes
8mo
Not familiar with the area. Looks like a good deal especially since rents are under market. Will be spending less living there while owning the place then renting somewhere else. Try using the BP calculator and fill all that info out on there to see if itll be a good deal.