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Updated about 5 years ago,
100 year old duplex- rental
Hello,
This is my first post on the forum and am attempting to work through a few properties to determine which is going to be the best initial investment.
Starting with the numbers.. The home seems like a solid investment from a cash flow perspective. $70,000 asking price, gross rent is $1300 a month. Area of town is acceptable. For me, those numbers work out.
Concerns.. The house was built in 1894. It has been owned by the same investor over the past 20 years. All electric has been updated, plumbing updated, plaster walls have been replaced with drywall, has a metal roof, has 5ish yr old heating/air.
I am not as familiar with structural components to a home, which makes me skeptical on such a old home. Aside from potential foundation issues/ mold, is there anything I should be looking for on an inspection report.
Thank you!
Alex Seward