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Updated 11 months ago,
Considerations with older duplex
I am in hopes of buying my first investment property this spring/summer. I am scheduled to look at a property this weekend with this one being different compared to others I’ve viewed in that it was built in 1900. The city is one that’s consistently listed as a top 10 2024 real estate market, the projected cash flow is intriguing ($50,000 - 25% down payment, estimated $7500 annual cash flow), both units are leased until October and December (as a potential new landlord this gives me some security), but I feel hesitant with offering on a century old property. The kitchens, baths, and flooring have been worked on in 2021-22. The seller listed the property this past Monday and will stop taking offers on Saturday. The property has multiple offers within days which makes me think I’m over thinking this and is possibly an opportunity I don’t want to miss. My question is what underlying aspects of an early 1900s property should I take into consideration? Does anyone have any negative/positive personal experiences with buying properties of this age