Duplex

[Patrick Rowe]

Do you determine the value of a duplex by using the income and 50% rule? Also I have an opportunity to purchase two duplex for 48000-49000 one is a three br 1bath and 2Br 1 ba. The three Br brings in $1100 and the 2br briings in 1000 a month. The property tax and insurances run about $150 per month. I have a banker that will finance any renovation cost and purchase 100 percent. He will do a 20 year loan at 5.75 percent.The properties is not in a war zone.But the area probably is a c-d class area. What do  you think about this deal