Hi All,
I have a duplex in Ohio that I've inherited. It's not a great property, but not an horrible one either. It's currently managed by a property management service. I've been asked "what I want for it?" It's really hard for me to evaluate its price I'm working with a range of 16,000 to 58,000 and I don't know which end is more accurate. So I'm hoping that you all can help me get an idea of what to ask for it.
Here are the details:
- 4 bedroom, 2 bath about 1700 sqft, built in 1883
- Neighborhood: C I think, close-in 45503 if your familiar with the area
- Duplex upper unit and a lower unit, each 2br 1ba
- Current rent 300 upper and 400 lower (which is up from 200 and 250 in 2014), neighboring duplex gets 600 for a 3 bedroom but it's nicer
- Expenses (prop management, lawn, bills, taxes... ) in 2016 so far $2200 and in 2015 $3200
- Profit from 2015 was about $500 (had the upper vacant for most of the year), profit this year should be about $1,600
- Appraiser $50,000 Zillow $58,000 Trulia $37,000 Estate $16,000
- Bought in the 80's for $15,000
Thoughts?