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Updated almost 10 years ago,

User Stats

63
Posts
22
Votes
Joshua Rogers
  • Investor
  • Collinsville, IL
22
Votes |
63
Posts

Your numbers on this deal

Joshua Rogers
  • Investor
  • Collinsville, IL
Posted

Duplex in B neighborhood, $600 rent per side, tenants pay all their own utilities, built in mid 1970's on slab.  Taxes run $200 month, insurance around $100, maybe less.  Asking price is 92k.  I want it for 80k.  What do you think of these numbers?  Leaves me around $300 before expenses per month without much of a down payment.  It's essentially move in ready, long term tenants (5+ years each).  Only expense I see is replacing carpet in the future if someone moves out.  Otherwise she's good to go.  I usually invest in single family homes, so I'm not sure what type of cash flow I should be aiming for on a duplex.  I know appraisal will come in near 100k, unless I get him to accept closer to 80, in which case I expect the appraisal to miraculously decrease to 85ish.  Throw me some validation or criticism.