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Updated almost 8 years ago on . Most recent reply
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First Potential Rental Property!
I'm extremely new and learning how to evaluate a deal. I'm very interested in this property as it is TWO houses, in a very up and coming area that is really starting to boom. My husband and I could live in one and rent the other until we are ready to invest in the next property/move somewhere else. The seller is ready to get rid of as it has been on the market since July. The realtor is saying they are willing to come down quiet a bit, but I have little experience making offers so I'm not sure what percentage is "quiet a bit"..
The good thing is: not many people want to buy two houses so the competition is scarce. The bad: Not many people want to buy two houses, so if we ever needed to sell it could be difficult.
I've spoken with some people who do rentals in the area and they estimate the rent for each property to bring $800 or so.
Could someone give me a run down on how they would evaluate this property?
2914-2928 Jefferson St.