@Kyle Palmer Honestly, I would do a duplex rehab again but I'm not sure about the "A". Knowing what I know now, I paid too much for the one I'm in. I'm sure you've pulled the comps, but I think most of the "A" style homes sell for between 165K and 180K (if they are still a duplex) with rent prices ranging between 800-900 per month. If I ever sell mine, I will be lucky to find someone who pays what I have into it. It's at the top end of any "A" that is still a duplex in Richland. That being said there were 680 "A" style homes built originally, so there are lot's of options out there. Not sure on the "B" style, but I think it was around 500 of those built.
My next duplex will probably be a "B" style home where I can add a bedroom and bath in the basement. The 2nd story on the "A" adds a lot of cost...the biggest example of that is siding. Including my garage, that house has over 8K sq. ft. of siding! Here's some other things I would think and look for if I was to buy another one:
- Windows -The "A" house has 34 total windows (plus basement windows), which is a lot of windows. If they aren't already replaced, replacing them could add up fast. If you look at the pics, none of my windows are in original locations...and they are bigger to meet eggress requirements, but I still have 29 windows including the garage.
- Asbestos -If it hasn't already been taken out, it's everywhere. It's illegal to do this yourself on a duplex or any investment property. I got around that because my house only had one address when I bought it. Pipe insulation, duct wrap, underside of the kitchen tiles...it's even possibly in the taping compound used on the drywall.
- Structure Damage -The main thing to look for here is in the basement. Most of the alphabet style homes were built with a half basement/half crawl, with a 2' tall CMU block wall separating the areas. The main structural beam for the house runs right down the center and is post braced off that CMU wall. If someone has dug out the crawl and extended the basement, make sure that the main beam is still sound. I learned the hard way on that, as the beams/posts were shot and the floor was sagging almost 2". I had to add new footing pads, and replace the beams and posts...pretty creepy being in the basement jacking up the house with bottle jacks to make everything level and listening to all the creeking, etc.
- Oil tanks/boilers -I would make sure all of this is gone, and not still on the property. Some of the houses have converted HVAC, but they kept the boiler and use it as a distribution point. I looks like a huge mechanical octupus in the basement and takes up all the usable room, not worth it. Oil tank clean up is expensive.
- Flooring -The "A" and "V" style both used Doug Fir T/G flooring. It was never meant to be anything more than a subfloor, but I have heard many people including myself thinking they can restore the hardwood floor. Doug Fir is just way too soft and will most likely be too damaged. I wasted lots of money trying to 'save' mine before I gave up and put carpet down. "B" and several of the other styles used Oak flooring and those would be more worth saving.
- Chimney -Best to find one that has the Chimneys already gone. These were for the boiler exhaust. They are 3 stories high and go right through the middle of the house. If they are gone, it gives you much more options on kitchen remodel, and bathroom remodel upstairs.
- Easements -The government originally developed that area of Richland with alleyways, but the current roads were developed later by the city. What that means is that the sewer doesn't always run under the street. On my lot, the sewer runs down one side of the lot, turns in the backyard and runs the whole length of the back yard. I've got 2 manholes in my backyard. That easement (14'-19' wide) affected what I could do with the lot.
If you're ever in the area, shoot me a text or just stop by. I'd love to show you around my place and I can walk you through all the things I learned about the property and the alphabet homes in general.
