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May 31st, 2007 10:20 AM by David W. Welch
The duplex I have listed at 1910 & 1912 E. Kaley Ave. has just been reduced to $319,990. That is $70,000 less than the original asking price. Currently generating $1,800 a month rent, this property could easily get $2,000 (one tenant pays $1,000 now). That gives you a return on investment of 7.5% before taxes and insurance. With 20% down and a 6.5% interest rate for 30 years your principle and interest would be just over $1,600. Check this property out at www.1910Kaley.info.
Also, per MFRMLS right now there have been 1,357 closed sales in May in the tri-county area with a median sales price of about $249,000. It will be about a week in a half before all the numbers are in, but these numbers are encouraging.