What would you offer?

[David Chan]

2br/2bth duplex in good part of town.

potential rent: 1400 a month if both units rented currently one unit is empty.

empty units has cat damage and has been gutted out by the owner. Outside the unit is in pristine condition.

50% rule would have me all in for around 100k.
2% would have me all in for around 70K

i'm thinking prolly 7-8k in repairs before it is rent ready.

[John Chan]

I thought you meant "gutted" as in down to the studs. Carpet and paint is really a regular rehab.

Taking your word that this is in a good part of town, I would offer 70% of the price of comparable properties minus accurate rehab costs.