Im in austin Texas and the market here is BOOMING. It’s definitely a sellers market. There are maybe 1000 properties for sale and a crazy amount more of buyers. I (somehow) found a duplex in a fast-developing neighborhood, listed for $395k. I do feel like this will be the last time it’s this affordable 😅 as properties are moving lightening speed. Seller wants me to execute a contract to even see the place. Fine by me...but I did comparisons in the area and there were two extremely comparable properties (one was even two doors down) both listed for the same yet sold for about $360k. With that being said I offered $365k and the agent will be reviewing best and final offers by tomorrow evening. There’s one other offer in hand for them. Agent made it clear he “didn’t need to sell this house” and would likely be going with the offer closest to selling price. I know he’s probably just using sales tactics but I don’t want to lose the property either. But, considering the comparisons sold for $360k recently, I’m terrified of offering $375k then being on the hook for the difference if the appraisal comes in as much less. I’m a first time buyer and have saved every cent to buy a place so I don’t have room for error or a ton of unexpected fees 

so I’m wondering if anyone would be willing to help me analyze this deal. It’s listed at $395k and I want to offer max $370. Duplex with two smaller 1b1ba. I’d put down 5%. Total rents generated $2500 (I would owner occupy for one year). Insurance $6k/yr, flood insurance $700/yr. I did use a calculator but still looking for opinions!