A Fresh One On The Market.
Curious about investing in real estate? Consider this promising investment opportunity located in Pittston, Pennsylvania. This is your average duplex property that is in relatively good condition, providing a great chance for investors to earn a steady flow of passive income.
Like all other properties in this area, it’s older, however, Pittston is an ideal location for those looking for an investment property in a community that is close knit and thriving. The area has it’s own rich history. In this article, we’ll provide an overview of the investment opportunity and why you should consider investing in this duplex property.
See the Official Listing Here
What I like about it:
Pittston is a cool city and it’s easy for me to get and keep tenants. Parades happen there, farmer’s markets, events, all types of things happen on the main road of Pittston. Neighborhood is no issue.
Price is also no issue. At 100k, the numbers look pretty promising. If repairs remain modest over time, the investment opportunity is a no brainer. One initial issue is the utilities. As of now, only the electric is separated into two separate meters.
The water and gas are currently shared and taken care of by the owner. Getting that remedied would be ideal, so I included that in the up front costs. As always, I run my estimates assuming financing with 20% down. Everyone’s situation is different.
See the PDF version of the full spreadsheet here.
Total taxes for the year are $1951.02.
I included some rehab to account for splitting up those utilities and doing some cosmetic upgrades (if needed).
Parking tends to be an issue in Pittston but this place is listed as having off street parking. That in itself is also a huge plus.
What I Don’t Like:
I wish the utilities were already split up. Obviously that’s a headache that will need to be addressed. If you don’t mind including it as a monthly expense, you can shave off the rehab cost and include it in your monthly expenses. The numbers should still be pretty good. You can always address it later when the timing is better.
Although one of the units is a three bedroom, the other unit is only a one bedroom and appears to be pretty small (552sqft). It can still rent if it’s updated, but it’s definitely not ideal.
Overall:
It seems pretty hard to lose money on this one in the long run. Especially if you were to somehow get it cheaper than the original listing price. The rents will average out well about $1500. However, it’s likely that it won’t be the best performing property in your portfolio either. Nonetheless, a good deal isn’t as good as a great deal, but it’s better than no deal at all.
Want to know what the owner disclosed? See the Seller’s Disclosure here.
Need to see the listing sheet? Here you go.
Want to see this property in person or get info on any others?
Get in contact.
Email: bryan@blueshieldproperty.com
