Hello,


We are looking at a batch of duplexes and the tax value is $38-40k each. 100 Independence blvd, greeneville, nc 27834. There haven't been any recent sales and if you so a site-x report you get a listing of all the duplexes we are looking at. We are trying to determine the real value. She wants $77k per bldg. They rent for $455 per side. Right now 1/2 are empty. What is the value of these properties? They are brick bldgs and she says that 8 units are ready torent.


We are in negotiations right now so a quick answer would be appreciated.


Thanks,

barb


Hello Barb,


There appears to be some activity in Duplexes in the market area for these properties built during the 1970's. Acreage and design (1 or 2 stories) do a have a positive impact on value as indicated by puling a few additional comp reports.


However, the market appears to be pointing to a more conservative value based on the limited sales activity and the vacancy rates.


A little research shows most rents in this part of town are $400-495 with a 9 mo or less life cycle. www.rents.com / census.gov.


We suggest an offer 10-15% below the 77k asking price given the aforementioned factors.


Hope this helps.

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