I wouldnt develop anything but sitting on it could be worth waiting to one day add new units/condos or a larger multifamily partnering with a developer. - half of parcel can also be sold off as only one half has the SFH and ADU on itOwner is quite firm on the price.

The property is a duplex, and he plans to give all the proceeds from the sell to his daughter.

This is when i was telling all my friends to buy duplexes - even at higher prices (at the time), because anything you bought made sense with a 2.75% rate.

Quote from @Mike Sfera: for a duplex, is the BP rent estimate for per unit of combined?

Yes I’m looking for small multi family duplex to quad  that is livable for the moment if tenants are in there that I can potentially fix up to raise rents to market and therefore I can refinance pull my money back out to reuse.

This is just a duplex, so my total number of rental units will just be 2.

I am not aware of any local banks that offer a HELOC in FL however you can do a DSCR standalone 2nd mortgage up to 75% CLTV on Condos. 

One is fourplex near downtown of Union city new jersey and the other a duplex in jersey city heights neighborhood.

I ultimately obtained a variance to build 12 townhomes and 18 condos reliant on my hardship case and by agreeing to take responsibility for replacing the retaining wall in a re-designed terrace approach that stepped the wall back from the most immediate neighbors which was a rounding error once applied to the overall project budget.

We recently bought a duplex and are almost done remodeling it to get us to where rents need to be for that A or B class tenant.I personally find that due to long term buy & hold in this area, it’s just enough to break even for first year or two.