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Well today I was surfing through listing updates and noticed this duplex was lowered 50k to 635k. Looks like each side is about a 1500 sq. ft. 3 bedroom with a rec room in the basement. It's on a busy street and needs some renovations, but I believe with 20% down this property could possibly cover (depending on final sale price).

 

I am thinking about 1500$ per side per month and and have the renters pay the utilities. This would make 3000$ a month which could cover $500k in mortgage at today's rates plus roughly the property tax and insurance. 

 

All that said I've not been inside the property yet and am not sure what level of work it requires, but it is a legal duplex on over 9000 sq ft. of RT-1 zoned land. You don't usually see these so cheap. The location is likely to blame, but often in the investment property game busy streets take the purchase price of the property down more than it takes the rent down. 

 

Food for thought. 

 

http://investinnewwest.com/recip.html/browse/details-25366454

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