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Updated almost 10 years ago,
Follow investors, Please help with your inputs
I had been looking for a rental property. Recently two of them came into my price range. One is a townhouse with 3 bedrooms, 3.5 baths, built in 1992, around 1430 soft, purchase price is probably around $210000, rent is around $1800/month, needs to replace the roof which may cost $5000. The other property is 3 bedrooms 2.5 baths SFH with one car garage, sqft is around 1500 something, built in 1980, the purchase price is $230000. It needs new carpets for all bedrooms and the living room and floors for the basement It doesn't have a refrigerator either. The rent is around $20000 monthly.
Which one is a better deal?
Thanks in advance for your inputs!