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Updated over 1 year ago on . Most recent reply
Would you buy this?
Would you buy a duplex for $190k in a rural town in Ohio? I want to see if my property can make sense for someone at $190k.
3/1 on each side. $1250 sq Ft on each. New roof, furnaces, water heater. No gutters. Both have basement with washer dryer hookups.
One unit occupied for $850/mo. Market rent is $950. Other side is vacant and a buyer could move in to it. Remodeled and painted. Large kitchen.
It seems $190k with Market rents of $950 each could make sense for an out of state investor who pays all cash.
However, with a mortgage it would probably make more sense for an owner occupied. And the one side paying $850 could be raised a bit and help off set the cost.
Most Popular Reply
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You're worrying about just one thing. You need to ask yourself is this a good area, can you see rent growth and appreciation growth fit your investment criteria?
If it's strictly the numbers work today, then yeah it's an okay investment. Solid in todays game. If it's about looking at it as a whole, it's likely trash to be frank. What city is it, what's population growth, why is it priced so low?
That'll answer your question.