Apartments for Low Income

Questions and Answers

Your Questions About Duplex

April 26, 2013

Ruth asks…

Is buying a duplex and renting both rooms out a good way to make money?

There is a foreclosed duplex that is 16% off for 124,000 with the estimated mortgage payment of 600.00 If i rent both rooms out for 600 would this be a good deal?

I would go in with a partnership and it is a pretty nice neighbour hood and is about 5-10 minutes away from the city the local colleges.

Would this be a wise investment or any suggestions on how to handle this?

thanks in advance
well what about if i lived in one half of the duplex and just rented out the other half?

and i have 15,000 to put down.
well what about if i lived in one half of the duplex and just rented out the other half?

and i have 15,000 to put down.

Administrator answers:

It’s clear that you have a lot of research to do.

Yes, the mortgage of the duplex alone may only be $600, but that doesn’t include taxes, upkeep and repairs, PMI, insurance, or closing costs. It also isn’t clear if you have the down payment. For investment properties, you typically need 40% down now adays. Do you have $50,000 cash right now?

Where I live the property taxes on a $150k home is about $300 a month on TOP of the house payment. Insurance can easily add another $50 a month, so you could easily end up paying $950 a month.

George asks…

What is better to buy for rental property Duplex or House?

I am looking at buying a rental property and was wonder if it is better to buy a home or duplex. I would love to know what the pros and cons are with both kinds of rental property.

Administrator answers:

If you are buying the rental for income, the duplex is the best investment because you will always have some income from one unit when the other unit is empty.

If you are buying the rental to resale for a profit in the future, the single family house is the better buy. There is a larger market of buyers for single family homes than for investment property like the duplex. The bad thing about single family dwellings is you have no income when it isn’t rented. This puts pressure on you to rent to marginal people that damage it, just to get the income.

Paul asks…

What type of American Foursquare is my duplex apartment?

It was built in 1911. I’m not sure if it was built as a duplex or was renovated later. It is split vertically, with each apartment having three upstairs bedrooms. The stairs are directly in the middle, beginning just inside the front doors. The apartments are nearly exactly symmetrical.
I would like to know if it is a Sears home or from any other catalogue.
Excluding the front porch and two back rooms built off of the kitchens, the whole house is 32′ 6″ by 40′ 6″. The front porch is 30′ by 8′.
Here is a link to a picture of the house. https://is.bsasoftware.com/bsa.is/AssessingServices/ServiceAssessingAttachmentDetail.aspx?dp=06-22-171-012&i=1&on=peeters&appid=0&actSn=1015&actSna=PARK&unit=233&fn=06-22-171-012_0b63e32e-f802-460c-8e77-57eee3efd840.JPG&caption=04-06-2000&tp=i
Lara-
Thanks for your response! I am making a Google Sketchup 3D model of the house, just for fun, and in my search for the exact dimensions (especially of the rooftop) I began trying to match it to a catalogue home. It would also be immensely helpful it I could see the floor plan, instead of measuring every room.
Basically, I am *hoping* it is a catalogue home so I could gain access to the layout and measurements.
This link should work to see a few pictures of the house.

http://www.flickr.com/photos/93021279@N06/

Thanks again!

Administrator answers:

Hi, the link you provided is not working… That said Sears did not have a duplex that matches your description. However, many single-family Sears homes were later converted into duplexes.

What makes you think it might be from a catalog?

Lara
www.sears-homes.com

Carol asks…

Would having a duplex built in my neighbourhood have any effect on my property value?

Hello, I bought a home last summer on a quiet street with older single family dwellings on it. A neighbour diagonal to us came by tonight with a “Neighbouring Properties Consultation” form asking for our opinion on whether or not they came demolish their house and build on duplex on the same property. Now, I have no official reason to oppose this, I just like my neighbourhood the way it is but I want to be fair. However, the value of my property crossed my mind. Would this new duplex style property have any effect on my property value? Are there any other way that you can think of in which this would effect me?

Administrator answers:

In Vancouver, for example, it’s common that you see duplexes in residential areas. In fact, many duplexes exist in residential areas and have been there for well over 50 years. They have NO effect whatsoever on the property value of an area. For example, you can find half duplexes on Vancouver’s west side that sell for well over $850K for 2000SF. That’s HALF a lot for that price and prices go up and down depending on whether or not it’s a side by side or front back duplex. They have no value on your property.

Also, unless the ENTIRE neighborhood objects to it, the city will most likely allow them to change the zoning to allow for a duplex. They look just like every other home in the area (except new, of course) and they have no bearing whatsoever on your property value.

Sandra asks…

Where is available Bossmanfilter make Duplex Basket strainers ?

We need Duplex Strainers Bossmanfilter make, where to contact.

Administrator answers:

Bossmanfilter make Duplex strainers available visit : http://www.bossmaninternational.com/ , and also industrial filters, hepa filters, auto drain valves,air receivers, bag filters, compressed air filters, compressed air dryers and filtration products available in Bossmanfilter make.

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