OfflineI'm considering making an offer for a duplex but I don't know what may be fair and attractive to the seller. The property is listed by a Real Estate Agency.
Sale price: $399,000
Zestimate: $335,500
2 Units with tenants
2 Garages
Built in 1900 and has not been appraised recently.
Comps from 269K for single family homes to 514K
Pontential income from rent: $30,000 per year.
What do you suggest as an Offer for this home?
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Duplexes typically are sold based on comparable sales rather than income.
What ARE the comparable sales?
The ZEstimate could be close or way off.
But let's say it's close. zillow says the property is worth 335 but the seller wants 400? Where is the deal here?
Efollah you might as well stand in the middle of the street waiting for oncoming traffic to HIT you, thats how you are gonna feel if you Buy that duplex, just WALK AWAY,HERO'S ARE MADE NOT BORN,SULLY.
P.S. YOU NEED TO CHECK OTHER WEB SITES AND COMPS,BESIDES JUST ZILLOW,LIKE WWW.HOMEGAIN.COM,WWW.****(REAL ESTATE),MLS COMPS.
YOUR HERO, SULLY
wmark1963, this is practical advise. Thanks. Oh, to answer your question, there is NO DEAL at all. I see it now.
sully, thanks for calling this deal by it's ugly name - KILLER!!!!. I see it now. I don't know what I was thinking.