Duplex in Tampa

[Fred Maul]

I am from Tampa. I am stationed in at Fort Bragg, NC. I recently sold our house and I was looking for a rental property. I found a duplex that was rehabbed and is for sale.
Stats; asking price is $119k; 1850 sq ft; 2 units; 3 bedroom, 2 bath. Section 8 tenants = $1050 and $1100. So both side recently rented. 2010 taxes were only $750 which is really low. It's not in a flood zone. It's block w/stucco construction from 1960. Central heat and air, brand new AC units.

Everything is brand new except the roof. It might last another 5 years.

Any concerns with this? What should my max offer be? Let me know your thoughts.

[Andrew O.]

Get a good inspection done, at that price the numbers look good! Running really rough numbers $100,000 @4% over 30 years is $477.42, your expenses will run around $1075

So 477.42+1075= $1552.42

$2150-$1552.42 is $597.58 in your pocket, you understand you will need to do a roof soon. But if you're planning on holding for awhile that is factored into expenses already. Section 8 can be a headache from what I hear, do some research regarding that. Being military you may be able to get a better deal on your mortgage too, my numbers are rough.

I'd buy it. Your max offer should be what you can get it for...I'm not a charity, don't know about you