Should I stay or should I go

[Erik Timmermans]

I need your experienced input on a duplex I am trying to close on and would like to add to my portfolio as an "buy and hold" property.

The asking price for the duplex is 110k and the duplex needs about 15k in renovations.

I based my offer of 95k of the "value=NOI/cap rate" formula. The total rent I will get for this property will be 750 dollars per unit. Below is my value calculation and am curious if I should stay or should I go???

750X12= 9000 x cap rate of 10% = 90,000 dollars

I look forward to your input and feedback. 

Thank you,

Erik