Deal on two family rental(first time)

[Aaron McFarlin]

The seller wants 370000( the tax assesed value of the house is 426700) for his duplex. Each unit has 2 bedrooms and a bath with no major repairs needed, aside from carpet paint and a few appliances.They city it is located in is a good area, similiar houses have sold from 300000 on the lower end to 450000 on the higher end. Renting both units out could bring in 3000 month. Do you think i should take this deal?

[Elizabeth Colegrove]

Personally I do not base ANYTHING on the tax assessed value. How did you find this deal? Personally if I wasn't buying this through the mls I would want to buy it as close to 300,000. At $300,000 it get it to be 1%.

Honestly you are the only person who can say how "good" a deal this is going to be. It won't probably won't follow any of the 50%, 1% or 2% rules that you will see on this site.