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Updated over 6 years ago on . Most recent reply
Newly built duplex - worth it?
Because I've been struggling to find a deal with which I can force equity, I thought I'd start looking at other places to find a reasonable deal and found a couple of newly built duplexes.
They're trying to sell it for $328k for a 3/2.5/2.
Rents from rentometer are between 1300-1700 for a 3/2.
My Assumptions
- Maintenance/Repairs/CapEx budget wouldn't need to be all that necessary, since it's a new build
- Could likely get near the top of the estimated rents since it's brand new
- Unlikely to get much appreciation, if any, since it's a duplex
Does it make any sense to get into this type of a property? I guess they'll not likely sell it for significantly less than they've listed it for, but if I plan on getting 1600/month/side, I feel like I could cash flow $100/door at a PP of around $305k
Any thoughts around this would be hugely helpful!