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Updated over 4 years ago,
Should I pull my Duplex off the Market in Durham - Covid-19 issue
I have a duplex in East Durham, NC that is currently listed on the MLS and the Tenant has requested no showings due to COVID-19. My agent says this is a "Showstopper" on getting the property sold. Should I trust him and pull the property off the market (or find a new agent?) He's taken photos of the units but there is no virtual representation (3D or otherwise). I am a rookie investor from CA and could use some guidance from the BP community on how to move forward. This was the first of five properties I have purchased in that area since December and by far it has had the most challenges. A few details about the property.
- I purchased for $136K in December, 2019
- Appraised for $165K
- Property is in a flood zone (Flood Insurance is approx $105/mo)
- I have a traditional loan of $100K on the property at 4.5% (Mortgage is $840/mo)
- Unit A: I put $15K into rehab (Window units No HVAC)
- Unit B: was rehabbed when I purchased it (Window Units No HVAC)
- Combined Rents are $1300
- I have a property manager at 10% (I live in CA)
- Property is currently listed for $159,900 on the MLS
I appreciate your input.