I found a FSBO on craigslist today, it is a duplex the owner needs the money for the retirement home. The did a contract for deed last year and have recently gotten it back. They have it listed for 125,000 it was appraised when sold last year for 127,000. Comparables are all over the place according to totalviewrealestate.com one down the block sold for 70,000 another the next block over sold for 135,000 and another for 140,000. She said the lower values are houses that need alot of work, this one does not need upgrading. It is currently renting for 750 on the 2bdrm and 800 for the 3bdrm. The renting has been consistant for the last 19 years.
I already asked if they would be willing to do another CD she said possibly but would need a "major" down payment (her words.)
I feel the price is a little high for cash flowing, but she said the last owner defaulting has left them in a "bind" does that sound like a low all cash offer and be done with it to you? Any and all comments appreciated. Oh the taxable value is 177,000. taxes are 2400.
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