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Updated almost 9 years ago on . Most recent reply
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Duplex w/ a CELLAR?
Hey Everyone,
So...since our plans for qualifying for an amount needed to place an offer for a much better duplex has practically failed, my business partner and I are deciding on whether or not we want to go after this 3 bedroom (per unit) duplex or if we should just rent together for now.
Here are the pros and cons:
Pros:
- Low expenses; will cash flow well after both units rented
- Newly renovated; clean
- Cub Foods is 5 minutes away
- Two blocks away from bus stop
- Close to highway, Downtown and a university
- Close to the River and parks
Cons:
- Low-income area
- No garage (but fresh black-top), but space for building one (3-door, potentially)
- Has a CELLAR instead of a basement (how does that work?...)
- Rooms are small
- Poor phone signal (one or two 3G bars) and lack of internet service provider options (no US Internet; only CenturyLink)
- Not many restaurants
- Poorly rated schools
- Far away from Minneapolis (where I currently live; 25 minutes away)
- Would need to probably get a new mailing address for online business (due to potential theft)
For anyone who lives in the Twin Cities area, its in Dayton's Bluff. Is that a good area to invest in?? Seems like most properties are either there or in Payne-Phalen. Trying to decide if we should maybe go with this or just rent for now...and on limited time; quick decision needs to be made.
Thanks!
-Ulrich