Only Duplex in neighborhood

[Sherman Cummings]

My name is  Sherman and currently looking at a house hack on a duplex. I have a deal l am looking at, and am currently trying to comb through all the numbers and do all the research I can to vet it. One problem I am having is figuring out what to offer on the property. It is the only duplex in the neighborhood/ nearby areas. I have been looking at sf homes with comparable SqFt to one of the units, as well as the units combined to try and get a feel for what this is worth. The duplex has been sitting for 90 days and is 3 times more than All single family Homes with the 3 beds and 3 baths in the neighborhood. I know I  shouldn’t compare apples to oranges but looking for any tips on how I can get a feel on what it’s worth.

Any recommendations?

Any tips are much appreciated.

[Alecia Loveless]

@Sherman Cummings I have the only duplex in my neighborhood. When I purchased it I simply based my offer on the numbers that made it work using the BP Calculator.

I use the BP Calculator to analyze all my deals. It’s simple and it works. The only thing it’s difficult for is if you have multiple loans on the property. For this I’ve taken the payment amount of the second loan and included it as an additional monthly expense. You won’t get the metrics like the pay down or the returns on the second note this way but you can get the accurate cash flow.