Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
How should I value this duplex?
Hi All,
I have a duplex in Ohio that I've inherited. It's not a great property, but not an horrible one either. It's currently managed by a property management service. I've been asked "what I want for it?" It's really hard for me to evaluate its price. So I'm hoping that you all can help me get an idea of what to ask for it.
Here are the details:
- 4 bedroom, 2 bath about 1700 sqft, built in 1883
- Neighborhood: C I think, close-in 45503 if your familiar with the area
- Duplex upper unit and a lower unit, each 2br 1ba
- Current rent 300 upper and 400 lower (which is up from 200 and 250 in 2014), neighboring duplex gets 600 for a 3 bedroom but it's nicer
- Expenses (prop management, lawn, bills, taxes... ) in 2016 so far $2200 and in 2015 $3200
- Profit from 2015 was about $500 (had the upper vacant for most of the year), profit this year should be about $1,600
- Appraiser $50,000 Zillow $58,000 Trulia $37,000 Estate $16,000
- Bought in the 80's for $15,000
Thoughts?