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Updated almost 9 years ago on . Most recent reply
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Should I invest? Portland OR Duplex
In need of advice! After looking (on the MLS) for months this is the best opportunity I've found and want to know if I should pull the trigger(or at least make an offer as everything goes to cash buyers these days...):
Up and Coming Duplex
2 bed 1 bath unit that will rent for around $1600 (conservative estimate)
1 bed 1 bath for $1000
annual taxes 5k
Beautiful street with walk to quaint shops and restaurants, should virtually 0 vacancy due to Portland rental market.
Rent ready(new paint, solid appliances, refinished hardwood floors, mature low maintenance landscaping ) but could improve 1 bed unit for several thousand only.
Will likely sell for around 450K+(similar property 6 months ago went for that, I offered 430K and missed out)
Should I put in an offer and for how much?
Most Popular Reply
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Here in PDX we pay for garbage only not water / sewer. If you can't have separate meters or a sub meter then you'd just pro-rata the water bill and have it reimbursed to you. Don't buy that unless you plan on living in it. That's a crazy price. I agree it's a stellar part of town but you'd wait so long to get your appreciation out of it. You're better off buy and hold in Lents. Buy low and rent out for much less but don't do any repairs. In 3-5 years when the area turns do your repairs and rent for more or sell. Montavilla is for living in or flipping only at this point.