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Updated over 8 years ago,
Duplex in a convenient Nashville suburb, is it a good deal?
I just recently got my real estate license, and I was looking at the MLS listings for multi-family homes. I found a duplex that came on the market today in a very convenient suburb of Nashville. The asking price is $119,900. I would like to make a cash offer for a little less. I can't go too low because it will sell easily to someone else with a higher offer. I'd be willing to bet this house will not stay on the market for more than a few days. I called the listing agent and he said he has a showing already scheduled for this evening. The current rent is at $950 total for both sides. I could get a little more easily. It's in a super convenient location, walking distance to Walgreens and a nice grocery, a decent neighborhood, like a C+/B- neighborhood, and good schools. Plugging it into the Rental Property Calculator with a purchase price of $112k shows a cash on cash ROI of 6%+. Should I make an offer?