Do you still use the 1% rule?

[Account Closed]

Do you still look for or follow the 1% rule when looking for an investment property?

Heres the scoop: I am looking to sell my duplex. Based on the 1% rule, I could sell it at 259K but I'll be listing more around $240K so that comps in the area can support it well (highest sold in last year was $260K & its slightly larger with 1 more garage space). Tell me, is this something you as an investor or even an owner occupant would buy?

I am skeptical because I bought it for $120K 3 years ago & renovated with $40K and got it fully occupied. Im just shocked that the value increased so much based on comps.