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Updated over 6 years ago,
[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
This duplex is in an "older" part of Arlington, and a property manager from BP thought the rental numbers were reasonable. My real estate agent in the area went by and took some video and described it as "creepy and old," the tenants had smoked so the smell was awful, and the neighborhood was "hood" - she didn't really feel safe there just taking a look.
So on one hand, it's in my price range (finally) and one expert thinks it's a pretty decent deal. On the other hand, another expert thinks it would be cost prohibitive to find and keep good tenants, even if I fixed it up completely to current standards for the area based on the location.
What do you smart people think? I'm getting a bit discouraged about Arlington, even though there are a lot of great aspects to the area. Prices for small multifamily seem a bit too high for good cash flow. Am I way off base here?
Thanks!