Pricing A Duplex
I once had someone comment on this list (dont remember who) that the way to price a duplex is like you would a single family ($ per sq foot). I was told by a local RE company that they use a multiplier (125-130 X gross rent) to determine a listing price (although i checked a recent listing they sold and they used a multiplier of 145 and the property sold in 3 days). My thoughts are that if it sold in 3 days - in a buyers market, than it was probably underpriced. So I am not sure I totally trust what he was telling me. Back to my original question about how to properly price a duplex. Does anyone have any experience they can share? My property is in Cary, N.C which is a very desirable area I would like to make sure I get the best return on my money as I am sure most would. Thanks in advance.
-Pat
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