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Updated almost 8 years ago,
Second opinion on Duplex in Chattanooga TN
Currently evaluating the purchase of a duplex. I need some second opinions
List price $57,500
Current Rent $889 gross (Both sides) one long term (4 years) at $400 one short term (6 months) at $490
Desired Rent (section 8) $1,200 (both sides)
2% rule (gross) 2.09%
Comps support $600 / side on section 8
Needs a few thousand put into it, some flooring, window HVAC fridge, repainting.
I would appreciate some advice! if any additional info is needed please let me know!