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Updated almost 10 years ago,
Your numbers on this deal
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.