Here is a typical side by side duplex located in the Village of Lancaster. The location is nice for its proximity to Walden Avenue and Central Avenue. However, it is close the railroad track that is still active. My office is near by and I have to say, the trains aren’t that frequent and they are not very noticeable (I am not sleeping, though).
The listing states that they are only bringing in $530 per month for each side. This area would support a much higher level of rent for 3 bedroom 1.5 bath duplex style apartment. I am sure you could increase that well above $600 and still remain competetive. I have a duplex on Broadway that generates $775 per unit. The neighboring duplexes are much higher than mine.
This is listed through America’s Choice and does not have the visibility that they would if they were in the MLS right now. It might be worth taking a look.
The asking price is: $148,900. I am not sure that I would classify it as a “bargain” at this price, but you never know what the final purchase price could be. It is my opinion that you might offend someone with a lowball offer, but with a FSBO (for sale by owner) you can do it without having to go through the contract process. You can make a verbal on the property and get an indication of whether the present owner is looking to deal.