Duplex Analysis: Potential First Deal...Help Needed

[Giovanni Brown]

Hello Fellow BP members,

I am a newbie looking to get my feet wet with my first property, originally from Kansas City and looking to invest in that market. After about a half a year of doing research and continually learning, I have come across a property (duplex) that was recommended to me by a friend that lives there.

• Current neighborhood is C class and needs some slight repairs (new water heater, cosmetics and maybe more once a proper inspection is completed)
• According to current tenants though they are happy with conditions but would like hot water.
• According to the tax records I found on the county website the taxes are delinquent and the owner currently has the property listed for 60K+ on MLS.

After analyzing I came up with the numbers listed in the below report (repairs are on the low side as much not needed according to current tenant). I would offer 48K. Currently listed at 65K with not many comps around but a similar 4 bed 2 bath a few blocks away listed at 62K.

*Kicker, tenant mentioned that property may go up for auction in august but not sure? if the taxes are delinquent this would make sense though.

Overall looking for input and things I can do to get this deal to move and work as well as feed back or things to find out before moving forward.

Thanks

View report

*This link comes directly from our calculators, based on information input by the member who posted.