2% North Texas Duplex?

[Matt Kiser]

I am a new investor looking for my first deal. I'm a licensed realtor so I'm using the MLS and also marketing on my own using online ads. I wanted some advice on the following deal:

List Price:  $56,000

DOM:  114 with no price reduction

Repairs needed:  roof and pier and beam foundation leveling (estimated 15k)

Expenses:  Insurance $769 Taxes $1571

One side of duplex rented at $600 (long term section 8) and the other side it vacant.  

Due to the days on market on repairs needed I'm considering offering $45,000.  Any thoughts or analysis on this deal would be greatly appreciated.  

[Andrew Postell]

@Matt Kiser I feel that the ultimate question is what you think the "After Repair Value" will be. Meaning if the ARV is $61,000...and comps support that value...then just go and buy one where no work is needed. If this property is local to us I would have a feeling that the ARV is significantly higher but that is how I would weigh this deal.