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Updated over 10 years ago,

User Stats

16
Posts
2
Votes
Mark Struckhoff
  • Involved In Real Estate
  • Saint Louis, MO
2
Votes |
16
Posts

Possible First Real Estate Deal in St. Louis

Mark Struckhoff
  • Involved In Real Estate
  • Saint Louis, MO
Posted

I'm looking for some feedback on the below numbers.  This would be my first rental property, and I plan on a buy and hold strategy.

Couple of things to note:

125,000 is full asking price. I think the property is worth between 110-115 based on SFR sold comps. I don't know how to value based on the fact it is a two family.

Unit is currently leased, however, average rent in the area is around $730/unit.

Unsure of any repair costs because I haven't been through property yet.

Feel free to ask any additional questions.

I have a feeling that this deal is a no go at these numbers.  At what purchase price does this deal start to make sense?

Any and all feedback would be greatly appreciated.  Thanks.

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