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Updated about 10 years ago, 11/03/2014
Help! Trying to guess how much to OFFER??
Already has offers.
Asking $63,000. 1 tenant pays $475. 2nd tenant vacant.
Rents in the area go for about 850. I will have difficulty kicking tenant 1 out. 6 months.
Needs cosmetic work and new roof (water damage). damage could be between $5k-$30k? not sure the extent of the water damage.
How much do I offer? What would be overpaying? A very similar property sold 6 months ago for $82,000 but included a new roof and gas boiler. $28 a square foot (the place was bigger). Everything else similar is $80-120k in this area.