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Updated over 8 years ago,
How much is it worth?
I have a rental property in Memphis TN that I am planning to sell (potentially with owner financing) in Q4. I have owned it since 2001. It has been rented for almost that entire time. The longest vacancy was 4 months while I did some major repairs from vandalism. It is a 3 bedroom 2 bath ranch that has a long term tenant in it that is renting for $875/month. I no longer live in Memphis and do not have much interest in continuing to manage a (profitable) property out of town.
I am trying to figure out how to best calculate the asking price given that my target buyer is an investor rather than owner occupied. Any advice?