1950s home as rental property

[Selby Johnson]

Hello Investors,

I have a 3/2, 1196 sqft house in Texas that I am closely looking at as a rental property but wanted to see if there was any feedback/questions before making the leap.

House was built in 1950s, originally bought a few years ago and work done on it includes:

- Flooring

- Kitchen

- Bathrooms

- Windows

- Roof

- Light fixtures including some recessed lighting

It is priced at $140k but think I could come in as low as $130k as it's been on the market for 70+ days. Rent comps are said to be $1500, however I have set it to $1400 in my analysis due to area and lack of garage (although the general area has no houses with covered parking). It is an area with smaller homes, however this one has been added onto with the area being revitalized (new homes built, many are being renovated as older families are moving out) and it is close to the downtown area.

Appreciate any help. Thanks!

[Selby Johnson]

Quote from @Michael Smythe:

Did you run this through the BP Rental Calculator?

 I ran it through DealCheck and it is a good buy, however I spoke with a resource with 20+ years of experience in the general area who says finding renters is very difficult and break-ins happen often. Needless to say I backed out of even placing an offer.