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Updated almost 8 years ago,
Duplex for my first investment property...what am I missing?
I've been looking into and researching investment properties for a very short time. Just out of curiosity, I looked up some properties that are for sell and found a duplex for $180k.
Both units (3 room 2 bath each) are currently being rented for $850/month and the tenants pay the utilities.
It's in a decent neighborhood (very low crime) and is about a five minute drive from a division II college.
As far as I know, it's in pretty good shape too. Of course, I don't know that for sure because I haven't been to the physical location or had an inspection.
I talked to the realtor and she said even though rent is at $850 she thinks that is too low.
Looking at things on the surface, it seems like that is a good deal. Am I missing something obvious?