four plex located in historic district

[Calvin Kennell]

Hello I'm looking at a 4 plex that is being offered for 129,000 located in a historic district. Each unit needs 10-20k worth of work and potentially rents for 750-950. is this a good deal?

[Brandon Roof]

Hi Calvin!  Unfortunately, there are too many other variables in play to determine whether or not this will be a good deal.  Things such as property taxes and insurance will have a material difference, as will the utility situation and whether or not you are responsible for any portion of them.  In addition to the repairs you intend to do now, how much of that is cosmetic and how much is addressing big ticket items such as roof, windows, HVAC or appliances?  If not addressed now, within how many years will they be?  Is the historic district robust or are housing values declining?  All of these things can affect your analysis of the potential deal.