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Updated almost 8 years ago,
duplex with crazy numbers
I am currently looking at a duplex for sale in my area. It's the best numbers I've ever seen but it's a C property in a C area which I've been trying to move away from. Here's the base numbers :
Purchase price - $60,000
4 bed 1 1/2 bath each side
Gross rents $1860/month (900 each side plus $60/month for pets for one of the tenants. Currently rents for this amount.
House and area are definitely C grade property. There is low crime in my whole community including this area and you don't feel in danger in the area but it would mostly be section 8 type tenants. Currently it's a section 8 tenant in one and 3 adult males splitting rent in the other. I've had class C properties before and didn't enjoy it a ton but at a 3% rule purchase price can I afford to pass this up? Any opinions or thought so appreciated.
Jake