Profile picture for HappyBoii

In the process of closing on a foreclosed duplex...

The price of the duplex is $134,900. the bank wouldnt go any lower. My interest rate is fixed at 4.5 for 30yrs. and my monthly payments is $1000.45. Is this a good deal?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010 - San Mateo
We think we've answered this question for you!
 
 

Replies (7)

Yes.... Especially if you can rent each side of the duplex out for $1000 each. You'll make $1000 once a month just for breathing.

Do that 9 more times and you'll be able to take a vacation for about 10 years:)
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010
In San Mateo? A duplex for only $134,900? You better believe it!

There was a time, and probably is still the case, when you can't buy a condo for under $300K.

Are you going to live in one unit and rent out the other? Good for you! Make sure you consult with your CPA regarding the tax deductions applicable to owner-occupied income propert.

Congrats!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010
Hey HappyBoii,

Here's a link to some of the calculations investment buyers should know.

Seems as though you've made an excellent buy assuming the rest of the numbers work.


  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010
Congrats it sound like a good deal if the cash flow is there.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010
Is the location good? Do you expect/know that you can keep it rented?
If the location is good and you keep it rented and have normal repair cost it is a good deal. If the location is bad and it is hard to keep rented and you have to work on it all the time it is not a deal.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 01 2010
Are you getting this duplex in San Mateo, or is it out of your area?  In my market, I sell a lot of REO's.  The asset managers controlling them seem to have about a 5-10% leeway from their asking price.

I guess the second question I would ask would be, what are you planning to do with this duplex, live in it or rent it out or both?  Then if your cost compared to what you can make in rents or what you would pay to live in another situation is lower, this is a good deal.

I suspect, you got a good deal.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 03 2010
Profile picture for H1N1
  • H1N1
  • Contributions:32

Where is the location in San Mateo, CA. It is very good deal.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 06 2010
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
Related Discussions
San Mateo Short Sales, San Mateo Foreclosures; Burlingame Foreclosures Real Estate, San Mateo Real
Latest reply by sunnyview
May 04 2011 | 1 answers
In the process of closing on a foreclosed duplex...
Profile picture for H1N1
Latest reply by H1N1
September 06 2010 | 7 answers
REO condo in process of closing, but found special assessments needed at HOA documents...
Profile picture for Michael Emery
Latest reply by Michael Emery
September 11 2009 | 2 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 496 Mountain View Ave, Belmont, CA Home For Sale
    496 Mountain View Ave, Belmont, CA 94002

     For Sale: $800,000

    • Beds: 3
    • Sqft: 1010
    • Baths: 1.0
    • Lot: 5998
  2. 3351 Kimberly Way, San Mateo, CA Home For Sale
    3351 Kimberly Way, San Mateo, CA 94403

     For Sale: $748,000

    • Beds: 3
    • Sqft: 1450
    • Baths: 2.0
    • Lot: 1944
  3. 107 El Camino Real APT 302, Burlingame, CA Home For Sale
    107 El Camino Real APT 302, Burlingame, CA 94010

     For Sale: $699,000

    • Beds: 2
    • Sqft: 1153
    • Baths: 2.0
    • Lot: 20384