Updated over 2 years ago on . Most recent reply
Running the Numbers correctly
I have a lead (3bd, 2bth, 1104sqft) that I'm going to drive an hour and a half sometime tomorrow to see, the owner is really motivated. My question is, do you think it's a good property to get under contract because he owes 185k on the property and thats what he's asking for, but he lives in the hill sides and there is only 2 properties next to him that sold for 293k-306k . The property is in good condition the only downside is that there's a landslide that happened next to it, that needs to get cleaned up.
Also Zillow zetstimate says it goes for 173k.
It's a mobil home.
He also said he got it apprised a couple of months ago, and that its worth 260k
Reason for selling it, he is old and wants to leave the state to live with his family and doesn't want to stress over the home
median home price for the are is 437k, but idk if it applies to these homes since they are