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Updated over 10 years ago,
small duplex - is this a good deal?
wanted to get some experienced opinions on a duplex im looking at.
here is the property;
http://www.npdodge.com/property/22964852/7616---76...
below is a 100k and 90k purchase price scenario. owner pays utilities, i called the utility companies and got the averages so the total listed below covers both units.
I know they have it listed for 115k but its been for sale for 1year, the agent says the seller has been off and on about selling the property for the last year other than that there is no major reason the property hasnt sold. (i think its because its over priced which is why i think i may be able to get it for 90k or 100k, questions is if those price points even make good sense though). has new roof, new exterior paint, reletively good basic condtion interior. very good area, i used to live near there.
so what do you guys think? i know its not enough to hit the 2% rule, but good area, already rented and small low maintenance property. and you can almost never get 2% in this city it seems like unless you go to the ghetto.