Buy and Hold Duplex in San Antonio

[Sev Kamensky]

Hi,

I have a duplex under contract for $253K in a great area of San Antonio. The MLS listing price is $259K. This is an MLS property, I'm working with an agent and I can reassign the TREC contract. 10 day option period starts 06/08/2016. The property is built in 2013. 2490 sq.ft. Zip code: 78238. Total rent: $2300. Very good buy and hold potential and minimal maintenance costs. Here's the seller's description:

Fully occupied! Sellers are selling property as duplexes. Conveniently located near the Medical Center, Loop 410, USAA, and UTSA. Each unit is a 3 bedroom 2 1/2 bath with a 1 car garage. Tray ceilings with crown molding and ceiling fan in the living room. Granite countertops and all black appliances in kitchen. Nice backyard with privacy fence. Stained concrete flooring on the first floor with carpet upstairs.

Send me a message if you're interested.

-Sev

[Rick Pozos]

How can that be a good deal. It does not even hit the 1% rule. Yes, its brand new construction, but there will be vacancy, there will be repairs between tenants. And then you want to assign the deal?? I am sure that you want to get paid for that assignment. It does not make any sense at that price.