Hidden Duplex Potential In Grove City OH
1576 Rock Creek Drive
This is a solid duplex in the grove city area. The layout is 3 bed 1.5 bath per side, and has many recent updates.
What I like about this property is that it is pretty much turnkey and would make a great house hack. In fact that's the target market I’d have for this property to get top dollar, but alas the current tenants are in there until Feb and making a house hack almost impossible.
I like that the units are large and promote good long term tenants, but this location is also within 10 mins of downtown Columbus.
What I don’t like - It’s very under rented, and going off the current rents alone I wouldn’t pay more than $280K or so for this property, but given the updates that have been done, and its fundamentals coupled with the upside rent potential of $1600+ the property is worth going after even if in the short term it's not a home run.
My target price would be about $330K-$350K, and I am planning to turn one unit over into a medium term unit in order to get stronger cashflow. The proximity to downtown, the hospitals in the area, and major construction projects suggests it will do well in that asset class.