CS78 said:
I looked at comps a couple weeks back and that's what I came up with on value. Recent sold comps were kinda thin. It also looked like it wasn't long ago that things bumped from the 160-170 area up to 190-200. I only have two 2/1 duplexes so not extremely in touch with the market as a whole. Seems there is a ton of people wanting to buy rentals right now. My opinion, the upswing is young and could easily see another 10-15% rise in the next 12-18 months. I wouldn't sell unless you're just tired of messing with them.
some of it is getting tired of messing with them for sure.... but part of me wants to keep them forever and eventually redo/reconstruct them. I was hoping with ty warren's outfit tearing two of them down a couple years ago they would build something nicer and maybe spur the rest of the street to start following suit and start removing the state street stigma once and for all, but we just can't quite seem to get there... he has just left them to sit as empty lots so I basically waived off doing anything and here we are two+ years later.
but doing some napkin math on redoing/reconstructing them doesn't really seem to make sense either, which is why I just keep bandaging them together and keep moving forward all while taxes go up and up and rent aren't climbing to match (though i'll freely admit I haven't tried at all to push rent and I think others are getting more for lesser updated units on the street, as I have done some work on mine to make them nicer, but its still lipstick on a pig).
anyway, thanks for the thoughts, I don't know what I'm going to do, but at 200k a building, it does make me at least consider cutting bait and moving on.