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Updated over 9 years ago on . Most recent reply

User Stats

31
Posts
1
Votes
Jim Lou
  • Investor
  • Philadelphia, PA
1
Votes |
31
Posts

Valuing a Duplex

Jim Lou
  • Investor
  • Philadelphia, PA
Posted

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?

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