help in running numbers for duplex

[Mike Lightcap]

Need help doing numbers on a potential deal. Seller is asking 180k. Said he could possibly seller finance or seller finance a portion. Rents are $750 for a one bedroom first floor and $650 for one bedroom second floor unit. Insurance $900 per year Taxes $2450 per year Can anyone recommend and feedback on what I should offer and also a few ways that I can creatively structure the deal with putting minimal cash down. Side note This duplex is in the port Richmond section of Philadelphia which is on the rise and has a lot of new construction going up and hip bars and restaurants and it's around 2-3 miles from the heart of the city. Both units are rented and both renters intend to stay. One until has a little old polish couple whose son pays their rent and the other is a single 36 yo male with a dog and I'm pretty sure the owner pays for water

[Ryan Cameron]

@Mike Lightcap

180k seems steep to me for only a $1400/month income. Think what your mortgage would be if you put down 20% ($145K and an interest rate of 4%, you'd be looking at PITI of about $950). This is not including vacancy allowance, property management, or capex.

If you are in it for appreciation, it may be worth it for you