If you’re a Residential Income Investor this blog site is for you. While I specialize in Residential Sales a big part of our focus is on Residential Income Properties and the Management of them.
I’m amazed at the current number of Sacramento Area Duplexes for Sale with their price points way out of line of what it was just a few years ago.
I’m going to give you an example of what I’m talking about. I will say though that if you are a seller and want to move the property you have, there are buyers out there but the property must be in great shape to get top dollar for it. That’s because the current rents may not be high enough as they should be to generate a decent cash flow and attract another investor.
Here’s one that’s over priced in my opinion in a great area at 6928 Trovita Way, Citrus Heights, Ca Our Property Management unit currently manage 4 other duplexes in the immediate area so we know it well.
You can see my Video Walk-Through of the 3 bedroom side and some of the comments I made about it at the time.
Click here for a Rent Survey of the area for the Vacant 3 bedroom side. The 2 bedroom side is currently rented at $1,600 and should have rented for a bit higher in my opinion. That’s because we have them rented at $2,250.00 in the same size unit on a duplex located on Crux Drive and another around the corner on Trovita also at $2,250.00.
Click here for a Proforma Cash Flow analysis at their current list price. After you view the potential cash flow figures I find it hard to believe that this property would sell for the price they are asking. The units I described in the paragraph above also had much nicer back yards with landscaping and some patio work which this particular Duplex owner didn’t do.
Therefore I think they are over priced on it.
What do you think…?
Let me know… Drop a note my way – Ed@Edfavinger.com
Now in the Meantime…?
Make it a Great Day…!
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