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Updated over 13 years ago,
What would you offer for this property?
Hey guys,
Please help me evaluate this property. What would you offer for this property?
Location: Kansas City, MO
Asking Price: 70K
Repairs: 25-27K
Cash In: 95-97K
Electrical, plumbing, framing, plans done. Needs everything else.
4 Plex, All 1BD units, All individually metered
Market Rents - 585 - 600
Property Taxes: approx 800 (will have to confirm, online tax system down)
Multi-units in the area are selling at 12-14 cap, which gives me about 100-117K as mkt value
Based on 2% rule, I'm getting 117K mkt.
Whadya think? Your help is great appreciated!! :D