[Calc Review] Help me analyze this deal

[Vinc Monagan]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This deal is located in Petersburg, VA, its a 2 bd, 1 bath duplex at 1728 sqft and is move in ready. The owner is asking for 189K which doesn't support the comps however, I negotiated a price of 175K which still doesn't support the comps.  I could get the rents at $900 per month but with a HML as my funding source for 12 months interest only.  My concern is the refi process to get the HML contract completed. I don't think the price will apprise at 175K or more based on the comps.  I'm looking for my first buy and hold multifamily deal.

Deal or No Deal

Thanks

[Vinc Monagan]

Yes it does help especially when someone is familiar with the area and thanks for the response. I submitted an offer for $150 which was declined and I understand I was the only offer.  Now that I think about 150K was probably to high for a 1700 plus sqft duplex.  So I think I will wait it out. I saw some other duplexes but they are located in a neighborhood that is very undesirable.