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Posts Tagged ‘Duplex’

For Sale: 8605 Fathom Circle

Enormous duplex within walking distance to Balcones Country Club Golf Course! 3,000+ SF total and full 3 bed/2.5 bath/1 garage per side. High quality Class A neighborhood. Many individually owned condos on the street. Not your typical rental property street.

Recent wood laminate floors and ceramic tile throughout. Renovated kitchen and paint. Lots of trees and fenced yards. Easy access to Hwy 183/McNeil Dr. 

Seller will consider financing! 

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Often we are asked if a duplex unit should be left vacant on one side to facilitate a sale.  There are pros and cons to this and having one side vacant certainly allows for an owner occupant buyer and broadens the buyer pool.

There are two primary kinds of duplex buyers:  the owner occupant who wants to live on one side and the investor who wants a pure investment and prefers both sides rented out.

It would be a good idea to have a short term lease or have a tenant go month to month to keep income coming in for the owner and to keep options open for an owner occupant buyer.   Another option is to have any new lease have a 60 day landlord written notice to tenant to move-out clause.

Another technique is to consider charging a premium rent to allow a shorter term lease of say 3 to 6 months.  A higher rent will translate to a higher selling price for the duplex too.  Higher rents = higher cap rate/return on investment.

Thanks for reading.

Hong and Dianne Lee

DuplexDianne.com Team

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Duplex prices

It appears that Austin duplex values are tapering off, which means it is a great opportunity for buyers.  A good quality Austin duplex, depending on the desired area, may be in the $170k to $220k price range.  Considering the median home price of Austin is about $220k, this represents a great value and opportunity:  start home ownership AND an investment at the same time.  Someone told me, “I don’t want to live in a duplex forever…”  Well you don’t have too – consider living there for a short time (maybe 1 year) then upgrade yourself with a bigger duplex or single family house.  A duplex is already has the benefits of a house:  front yard, back yard, and garage.  Be a serial duplex buyer and get the great owner-occupant interest rates versus the higher investor interest rate.

An owner-occupant could buy a duplex and rent out one side for possibly $900 to $1,100 range on rent.  So if your total mortgage payment was $1800, for example, the net difference could be:  $1,800 minus $1,000 = $800 net monthly payment.

Thanks for reading.

Hong and Dianne Lee

DuplexDianne.com Team

 

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