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Updated over 3 years ago, 06/23/2021

User Stats

6
Posts
1
Votes
Rohit Kumar
  • New to Real Estate
  • South Minneapolis
1
Votes |
6
Posts

Deal comparison in for similar sized duplex

Rohit Kumar
  • New to Real Estate
  • South Minneapolis
Posted

Just wanted to see if there is anything I am not considering while comparing the below 2 options

- 6 Bed/ 3bath (4/2, 2/1) for 265k in market. Comes with 2 car garage, mostly boilers but some baseboard heating in upper 2 bedroom unit. Now this is currently rented way below the market( almost $800 below). Right now fully occupied but both tenants are month to month. 4/2 is built in basement and 1st floor and also has a bonus living room and washer dryer. Cleaner building over all, stucco and brick. Not section 8 but I am not opposed to get section 8 tenants .  Owner pays water/sewer/trash/gas. 1900 sqft

- 6 Bed/2 bath (4/1, 2/1) for 285k off market, no garage. Long term tenants 5+ yrs each. Currently rented at marked rate. section 8 tenants. Has a bonus room in 2/1  unit. Forced air heating. Vinyl siding. Owner pays water/sewer/trash. 2300 sqft

Both are in similar area(rate C for crime), similar taxes and insurance and same zip. Numbers look best in the second case since it is rented at market but first one might even accept lower offer since he is motivated. Let me know if you need any more details. These are both in upper midwest.