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Updated over 1 year ago on . Most recent reply

User Stats

27
Posts
12
Votes
Faustin Hoover
  • New to Real Estate
  • Ashland
12
Votes |
27
Posts

1st potential investment property. Analyze my deal.

Faustin Hoover
  • New to Real Estate
  • Ashland
Posted

Hello all I would like some input and advice on a potential deal. I am looking at a duplex for sale on the MLS. It is 1800 sqft total. Each side is 2 bed 1 bath with a bonus room they say could be another bedroom in each. Both sides rent for 575 each right now. From what I can see in the pictures the kitchen cabinets could be updated. They replaced the roof and carpet and windows 6 years ago. Asking price is 130k. I also saw 6 years ago it sold for 20k. So I would estimate they have roughly 60k in it and now it's worth double that? I know the market is up right now. But would I be crazy to offer around 80 to 90k? At the listing price there isn't really cash flow but there is room to up the rent as market rent here is around 650 to 750 for a 2/1. Thanks for your help.

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