Updated almost 9 years ago on . Most recent reply
Potential Canton Duplex-Need help with assumptions!!
Hi, I have the opportunity to purchase a duplex in the Canton area and I was wondering if people could help me narrow done some assumptions. Here are the details
Located right next to Patterson Park.
200-215K purchase price. Rent can reasonably be 1800/month over both units. Newly renovated and new roof.
My brother plans to live in one unit, so an FHA loan is possible and he plans to do most of the management of the unit.
Want to buy and hold.
I was wondering if people in the area could help me with pricing out the following:
Typical bank interest loans in the area (I have very good credit, any recommended banks would be useful too)
Property tax rates in the area.
Insurance rates.
Potential management fees and recommended property managers
Typical closing costs
What duplexes in the area typically go for.
What is considered a good rate of return in the area.
Any of course any other area specific information or things to consider would be greatly helpful!
Thanks everybody,
Eric