Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago, 03/04/2021
Should I buy this as my first duplex?
Hey BP, I'm looking for some advice on this duplex for my first deal. South St.Louis huge duplex over 3200 sq ft for $135k. The inspection found out there was sewage problems with blockage. We requested seller redoes both sewage systems or we walk. They said they will redo the sewer system but price goes to 145k. One side is rented with section 8 at $675 and the other side will rent for $725. I think in the future both will rent at $750-$800. All homes in St.Louis are very old and need some type of renovations so im not sure if this will be too much in renovation cost and make it a bad deal or if I should just buy. I need to put new laminate flooring and paint for the vacant side. I'm also thinking of cutting down a tree that is causing stress on a power line. I'm putting about $15k for the renovations but Im right around the 7% coc for my numbers. Would you buy?