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Updated over 3 years ago on . Most recent reply

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Gabriel Kreider
  • Harrisonburg, VA
3
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10
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Appraising duplex and putting in an offer

Gabriel Kreider
  • Harrisonburg, VA
Posted

I am considering putting in an offer on a duplex that was built only a few years ago. Each side has a rental history of being rented out for $1600 a month. They are about 1400 ft.² each with three bedrooms two bathrooms and a garage built on a crawlspace. If these were priced individually they would probably go in the 250 to 275 range. But individually as a duplex what would be a reasonable price? My current rental properties are town houses and I am considering house hacking and using an FHA loan to purchase this property. Someone I know interested interested in selling but it's not on the market(no asking price). What would be a good offer/what can I do to figure out what a good offer would be?

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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,165
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17,478
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

You need to look at the sale of duplexes close by to start formulating what they go for, then perhaps add a price adjustment upwards for price/condition, assuming other duplexes are old.

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