Duplex decisions and moving forward

[Sean Phillips]

All,

Looked at the neighborhood where a duplex is being offered.  In one of the original communities on Orlando, FL.  currently rented. however in doing a drive by I noticed that many homes in the area are abandoned.  Zillow shows the pricing in the area on an upward trend.  I have yet to contact the agent that has this listing and am wondering should I?  Keep in mind this would be a crack at the first investment property.

Thoughts??

[Eddie T.]

Sean Phillips you should post the
street name
Asking price
Current rents
Annual taxes
Annual insurance

So that people familiar with Orlando investing can give an educated opinion

[Sean Phillips]

street name        Lee Ave.

Asking price   $125,000  
Current rents    Both units for $1,500/month
Annual taxes     2015 Taxes at $1,095 assessment at $32,382
Annual insurance   unknown

[Jeran Miller]

I've worked in that area (32805) a little bit.  It was forecast to actually drop in price not too long ago, so I'm glad to see that it's been revised up.  It's not surprising to see that it's underperforming Orlando as a whole, though.  As for the duplex itself, on the surface it seems like a lot of cashflow for not much money. But, a lot of the solidity of it as an investment will depend on the property condition (are the A/C units on their last legs, will you have to replace the roof, etc.) and the reliability of the tenants.  I'd say contact the listing agent and get a showing so you can take a look around, or have a buyer's agent set one up for you.  It's not as if you're obligated to buy, and the more property you see, the smarter a buyer you become.  Best of luck!

[Al Pat]

Also check the recent sales history and comparable if available to see if the data is supporting Zillow's assessment. Often time Zillow shows zestimates but you may not find a buyer at that price.