Updated almost 6 years ago on . Most recent reply
Triplex Deal Analysis.
Hey guys I need some help figuring out if this Triplex opportunity is a deal or not.
Purchase price: 150,000
Estimated repairs: 10-20K
It’s located in a rapidly growing part of Houston, TX (Independence Heights) with a lot of investor activity.
Property Facts:
Built in 1950. Two of the three units are currently occupied. The occupied units are two bedrooms the unoccupied is a 1 bedroom.
Unit 1 2Br 1 Ba
Unit 2 2Br 1 Ba
Unit 3 1Br 1Ba
Rent per unit is $900. Gross $2700. Owner pays $650 a month for expenses. Net after expenses is $2,050. Yearly taxes are $2,400. No HOA fees.
Property overall is in fair condition. The unoccupied unit has a hole in the bedroom ceiling and needs countertop updates in the kitchen. It could also use some cosmetic touches in the bathroom as well.