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Updated almost 4 years ago,
Is Buying Duplex in Bay Area a Good Deal if we are living in it
Hi , I am looking at Duplex in Bay area . Idea is to live in one and rent out the other. So this will be our primary home for next 3-4 year. I have currently found a property that is $1.5M . The Rent on the second unit is $2625 ( The main unit can be rented for $3350 as it is a bigger unit , but we need more space). The Property tax is 1.27% . We are looking at 30 year fixed loan at rate of 2.875% and 7-1 arm is 2.25%. We want to live in this property for only 3-4 years and then move out. We will be doing the property management ourselves and the property seems to have 5% vacancy loss. The property is in a decent neighbourhood (Willowglen) with less crime rate. The schools are not that great .
Would this be a good deal ?
Also how easy is it to sell the Duplex in Bay area ?