See a listing on MLS, wondering if seller with finance?

[Scott L.]

Ok.

Here's my deal. I saw a listing as i comb through the MLS for a duplex in a decent area. It's listed for 176k. 2 bed units, newer everything, very good shape all around. Anticipated rent roll is 950-975.

I contacted the realtor to get some back story as the price has dropped from 189 to 176.

He said there were some issues with encroachment with neighbor and have since resovled.  I asked why seller is selling, he said because he wants to retire, get out of the rat race.  I asked if he has other properties he is looking to unload.  Realtor said he has two 4plexes in a nearby area that are 340 and 350 respectively.  2bed units all commanding 750 in rent, and fully rented.

I've got bout 50K in cash. This seems like the first time I may have a decent shot and making a real move but not sure how to do it cause its a realtor and listing and the others are apparently not listed yet. I would classify the duplex in a B neighborhood. I ran the numbers and the CCR and Cap rate are both about 6-7%.

I currently only own a duplex in a C neighborhood commercial loan with CCR 20 and Cap of 17, so safe is where i have lived thus far. But damn you can't get anywhere if you don't take some chances or risks along the way. Would LOVE some chime in on what folks would do in similar situations...