Rent Assessment Opinion on Property

[David W.]

I am looking to put in an offer on a duplex that is located in Columbus, C class neighborhood, currently occupied with $600 per unit. Property is in good condition and in no need of any major repairs, roof etc. I put together a rent assessment and wanted to get some feedback before I pull the trigger. I am assuming no appreciation on this property so pure cash return objective. 

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[Robert Ellis]

Originally posted by @David W.:

I am looking to put in an offer on a duplex that is located in Columbus, C class neighborhood, currently occupied with $600 per unit. Property is in good condition and in no need of any major repairs, roof etc. I put together a rent assessment and wanted to get some feedback before I pull the trigger. I am assuming no appreciation on this property so pure cash return objective. 

Love your feedback!

 Repairs are low for sure. I've sold dozens and dozens of duplexes and 2500 is super low. i'm guessing no work has been done. "turn key" for a lot of owners means cosmetics only. look at the windows, are they vinyl double hung? knob and tube wiring still? plaster on the walls? if this was built before 1960 i'd pass. in columbus these lower properties get pricey because they have so much deferred maintenance. either that or make sure whoever is selling you this deal has all the warranties on who did the work. all our rehabs have workmanship guarantees for at least 1 year. if i know the deal it's in hilltop and i can tell you it'll need more than 2500 in repairs lol