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Updated over 14 years ago, 09/12/2010
Need help in analysis
Hi
I have seen a two unit house in a decent neighbourhood. The first floor has three bedroom and two bath while the upper unit has one bed room and one bath. The owners are selling this property and were in this one for last two years.
According to my research the rents are 900 in the lower unit and 500 in the upper unit. Lots of updates have been done and it looks nearly like a brand new house with fence backyad and nice porch for the lower unit.
They are asking for 110000. This figure in no way close to the 2 % rule. However from the look of the home it does not look too much of maintenence expense will be there.
Tax is 2200 dollars.
My first question is if this is a viable option to buy for rental investment.
The second question is how to make sure that there will be guaranteed renter after investing in such property. Is there any prior research I can do to know if I will get renter after buying such property.
I appreciate any help. Thanks.