Posted by Chyna on September 07, 2009 at 12:24:32:
Don’t know any of the details but with the numbers you gave, I wouldn’t buy…not enough profit. If the properties look like they may gain some real appreciation because of where they’re located I might consider it for the long term but there’s so much for sale out there, you could do better.
Advice/Opinion - Posted by Robert_WV
Posted by Robert_WV on September 07, 2009 at 08:29:01:
2properties asking price is $160k income is total $1675 per mo and only pay taxes total $1000 per year and ins. total $500 per year. Looking for opinions on value. Tenants pay all utilities. One is a duplex w/ 2-3bedroom units and the other is SFR 3bedrooms…thanks
Re: Advice/Opinion - Posted by Dave T
Posted by Dave T on September 07, 2009 at 14:01:03:
If $1675 is the gross rent with 100% occupancy, then I would guess that $85K would be a fair value for the package if the property is in good condition, and in a reasonably safe location.
If there is deferred maintenance or the property is in a declining neighborhood, I would pay less. If the property is in a war zone, I wouldn’t touch it.