Duplex Investment Opportunity: Worth Reading!!! 2 identical units - each unit features 3 bedrooms and 2 bathrooms. Each master bedroom has its own master bathroom. 1,200 square feet per side with an attached 2 car garage for each unit. Each garage has a power garage door opener. Owned since 2014 with zero vacancies during time of ownership. The roof is less than 10 years old. Since buying we have replaced Heating/AC unit on one side, other side was new prior to us buying. We have tiled the entire 2,400 square feet with a wood plank looking tile for increased durability. Fresh paint inside and outside. New siding on back and front (cement fiber board), replaced old fence with brand new fence secured by wood wrapped steel posts for increased durability. Poured big concrete patios for each unit. Replaced all appliances with stainless steel kitchen appliances. Gas ranges! Central heating and air conditioning. New larger ceiling fans in every room. Rents currently price under market rate. Current rent is $1,200 per side. Both tenants are very stable law enforcement professionals. Market rate can be brought up to $1,400 to reflect what current duplex rates in the direct area. This is by far the nicest duplex in the neighborhood with private patios that look directly onto a private ranch behind each unit. The back fences are made of "hog panel" which is a wire fence featuring 3" squares. Keeps in pets, but allows for a great view. Where else can you live in a quality community in California in a 3 bedroom, 2 bathroom home of any type for under $200,000? Susanville is 82 miles north of Reno, NV. There are many lakes and campgrounds in the area. Major cities like Reno, Sacramento and San Francisco are easily drivable. Priced at only $160 per foot. New construction in the area is priced at $250 per square foot minimum. If you really want to save money – live in one side and rent the other side. With 20% down ($76,800) a $307,200 mortgage at 6% equals a payment of 1,841.82 for principal and interest. Add in $300 a month for a total monthly payment of $2,141.82. If you rent both units out for the market rate of $2,800 total – that gives you a positive cash flow of $658.18. Or if you live in one side and keep the other side rented – your monthly housing expense would be an incredibly low $741.82 for a 3 bed, 2 bath home with a 2 car garage in a nice community. Add in the fact that the interest expense is tax deductible ($18,329.37) in Year 1 and that you can depreciate the property over 27.5 years ($13,963.63) per year and you have yourself a great tool to reduce your tax liability. In year 1 this equals $32,293.00 in write offs just from interest expense and depreciation expense. If your tax bracket is 28% - this equates to you saving $9,042.04 in cash taxes you would have had to pay. Many real estate investors started with something simple like a duplex. They lived in one side and let a tenant pay for 50% of the property. It’s a great strategy for a new investor or a seasoned pro. We are selling this to pursue an investment in an apartment complex. We are not desperate and are not going to fire sale this property at a discount. This is a well maintained property with many improvements with an excellent rental history in a great community. Perfect for a first time buyer, investor or a professional who has the ability to tele-commute. For further information contact me on my cell: 530 953 5961. I'll be getting better pictures in the next week.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
