Need help on a 2 unit!

[Ryan Mellon]

Hey guys, I have a lead on a two unit that I am having a hard time finding comps on in the area because the majority of this area is single family residences.  This property was bought for 115k in 2006 it has a current tax assessment of 130k.  It has both units currently renting for a total of $1030/ per month, $1500 annual taxes and $700 in insurance.  The owner is willing to sell to me for 75k and I would like to wholesale it to someone for 80k.  Do you think I might have a hard time selling it without having solid comps?  Any help is appreciated. 

[Patrick Britton]

While not ideal without comps, it's most definitely worth a look.  what are the yearly utilities, management fees, etc.?  i'd ask about the cap rate for the area but without comps they might not be accessible or reliable.

do this: total yearly rent - taxes - insurance - utilities - maintenance = NOI. divide NOI by cap rate to get fair market value. if value is higher than $100 or $110, you're in biz.