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Updated over 8 years ago on . Most recent reply

User Stats

34
Posts
4
Votes
Ebahi Ejerekhile
  • Dallas, GA
4
Votes |
34
Posts

What terms can I give to make this a good deal?

Ebahi Ejerekhile
  • Dallas, GA
Posted

Considering this deal. As it is the terms and selling price are not beneficial to me the buyer to buy and hold. The real estate agent asked me to send my terms that she would forward to the buyer for his consideration. Curious if I can turn this triplex into a good deal

Address: Indianapolis, IN, 46201

Neighborhood sounds like a C (based off agent's opinion)

Asking price $59,900 (Seller Finance is an option – 5 years to pay off, considering 10% down payment)

Annual Taxes $1656

Unit 1: 2/1 rents for $450 (Pays on time – like clockwork – same day/same time) Tenants for 2 years

Unit 2: 2/1 rents for $500 (larger unit than unit 1) VACANT since Aug.

Unit 3: 1/1 rents for $400 (Pays on time – like clockwork – same day/same time) Tenants for 2 years

Tenants pay all utilities and are currently month-to-month

Rent-o-meter comps are over $600/month for a 2/1.

Cosmetic repairs needed. Seller is fixing up the vacant unit

House built in 1911

No Garage

Out of state owner. Uses property management company  

Most Popular Reply

User Stats

42
Posts
14
Votes
Nick Walts
  • Residential Real Estate Broker
  • Indianapolis, IN
14
Votes |
42
Posts
Nick Walts
  • Residential Real Estate Broker
  • Indianapolis, IN
Replied

You need to know a lot more about the condition of this property. You should probably also ask a local, like myself, to investigate this place first-hand to give an honest opinion.

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