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Updated over 9 years ago,
Valuing a Duplex
I know comps are the most conventional way to go. But with FHA financing being very lax, I was wondering about valuing duplexes based more on what they're producing then comps. Can someone do a rough valuation and see if my offer I reviewed would be worth it going toward as I don't really need the cash but I can use it to reinvest at 10-15% ROI.
Here's the details:
240 sumac st 19127
Purchased for 180k in 9/2014
20k renovation
Rents are 1300 and 1500
Taxes 2700
Ins 1200
I was offered 325k of which after realtor fees, transfer taxes and 10% cap gains I'll net approx 95k. My current 30 yr fixed mortgage is $1350/mo. Would you keep it or flip it at this price?