Dawn, Real Estate Pro in Dallas, TX

I am considering selling my duplex in the Lochwood area of Dallas.

Asked by Dawn, Dallas, TX Fri Feb 15, 2008

It's a 2/1 each side and in good condition. Long term tenants. What could I realistically get for it? Is now a good time to list or should I wait a few months.

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Bruce Lynn’s answer
As a general rule we see 10x monthly rent, but this will of course depend on property condition and several other factors. Now seems as good as time as any to sell investment property. People are always looking for good returns, cash flow and stable tennants. Your property also seems to be located in a good area that is popular. While things are perhaps not as HOT as they once were, I haven't seen big changes in prices of investment properties over the past six-eight months and would expect prices to remain stable over the next several months in your area. If you need assistance with the sale, please feel free to call me.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Fri Feb 15, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Joseph, if you're going to post spam at least get the person's name right........the poster on this forum is DAWN, NOT Sabrina!!!!
1 vote Thank Flag Link Wed Feb 19, 2014
Inspections must be done by a competent real estate professional who is familiar with the area before giving you an accurate listing price. Since you already have long-term tenants, the buyer(s) will most likely be investors; that means they're looking for cash flow, which needs to be taken into consideration before pricing your property. I grew up in that area; call me and I will get you the info you are looking for. Melinda James, 972-839-4962, The Laughlin Realty Group. Look us up on myFOXdfw.com under "MLS Experts." Thanks!
0 votes Thank Flag Link Wed Apr 23, 2008
Hi Dawn, There are still many investors out there looking for duplex/triplex/ or even 4 plexes that are fully occupied. If they are rented at market value and you have long term tenants you shouldn't have a problem finding a buyer quickly. The interest rates are low.

I sold a duplex on Wyatt (behind the home depot) a few weeks ago that had 2/2/ on each side and was really in great shape. Original wood floor, updated appliances and roof. It sold for 139K.

The other upside there is there isn't much competition. Right now there is one more duplex for sale in Lochwood and it's also a 2/2
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Sat Feb 16, 2008
When do the tenants lease expire, there are many questions that need to be answered prior to comping a property, obtaining the market value. However a property with tenants is much easier to market than a property vacant. We work with investors who look for these opp's. however it depends on what their mortgage payment will be including tax, insurance. Will the current tenant(s) able to cover the payment for the new property owner. These are ONLY a few circumstances that must be reviwed to effectively list a property.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Feb 15, 2008
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