Is This Priced Too High?

[Andrew L.]

List Price: $128,500

Unit 1 Rent: $800

Unit 2 Rent: $800

NOI: $$9,600 (50% Rule)

Debt Service: $9,016 (20% down @6.25% on 20 year ammo)

What would you offer on this? This property is Section 8 housing. Seller has indicated that he has not had any issues with the housing authority and that money is debited to the checking account.

[Steve Smith]

@Andrew L. Using your numbers it looks like AFTER debt payment your NOI would be around $583 per yr

I would go with @Will Barnard suggestion