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Updated almost 6 years ago on . Most recent reply
Sell SFR for a duplex with same rental income 1/3 value
We own a SFR in Oakland, CA. It rents for $4k/month - 2 bed / 1.5 bath. Approximate value (according to Zillow) $1.1M.
30 miles east of us in Pittsburg, CA there is a duplex currently for sale for $430k with rents of $3.9k.
Now on to my question. If we can get nearly identical rents with 1/3 of the property value should we sell our SFR and buy the duplex?
Thanks,
Bryan
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#5 Multi-Family and Apartment Investing Contributor
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- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Bryan M. Welcome to BP. On the face of it-yes, sell. The only consideration would be the fact that you are in a market that appreciates pretty consistently, and that can be a game changer. However it is the SFR that appreciates way more than a MF in your market. So, what is you goal? You could sell and buy 2 duplexes. Or take out a line of credit and buy the duplex and keep the SFR. Options are always important to have.