Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

4
Posts
1
Votes
Matt Granzow
1
Votes |
4
Posts

Duplex + Laundromat - What am I missing on this deal?

Matt Granzow
Posted

Looking to purchase our first investment property. Here's a link to the rental property calculator report. The rents and Laundromat (hands off operation) income are as listed from the MLS link.

https://www.biggerpockets.com/calculators/shared/1298021/2af81e07-cedc-4f31-b6dd-35b98f991d95

C class neighborhood, on a busy street.  (2+1)/2 duplex + laundromat.  I say 2+1 because in order to get to the 3rd bedroom you need to walk through another bedroom.  It has a 2 car garage + a parking spot, 2 street spots out front.  Owner is selling "as-is".  Owner pays utilities for Laundromat, the average was $326/mo.  Tenants pay their own utilities.  The place seems in decent condition in a quick first walk through, but we were unable to see the basement or upper unit.  Those are both viewable on a second showing.  The place was a mess.  Garbage, cigarette butts, dog poop on the patio, etc.  IMO those tenants would need to go which would give an opportunity to clean it up and possibly raise the rents a little.  

Since I'm completely green, I'm interested in hearing your thoughts.

Loading replies...