Typical Rent For A Duplex
In my area there are several new duplexes for sale. Most are less than 5 years old. However the asking price is around $200K, yet they only rent for about $850/each side. What am I missing here? It seems to me that either the rents are way off or the house is overvalued?? I thought 1% of FMV of rental was a decent rule of thumb to use for rental property (which would amount to $1000/side) My intial thoughts was just someone asking too much, but it seems to be a common occurence. Thoughts?
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