Need input on possible deal in Buffalo

[Andrew Graziano]

I checked out a property today in "c-" or "d" neighborhood. It was a duplex with both units in not excellent but rentable shape. Sort of a awkward floor plan. Really just needed some paint and flooring updating. Both units are 3 bed one baths. There is no basement to flood, the roof is brand new, and the foundation looks great. Only problem is that the neighborhood will probably not see any appreciation in the near future. This is a "c-" or "d" property in the north towns of Buffalo. Both units should rent for 600-700 each. Seller wants $63k. Will hold a note at 5% with a $10k down payment. Taxes are around $2k. This property could cash flow $500 a month. Only problem is the neighborhood. Any advice would be great.