Updated about 7 years ago on . Most recent reply
Analyze Duplex Oppurtunity in Texas
There is an opportunity to purchase a duplex in in southeast Texas outside of Houston. Know information:
2600 sq. or 1300 sq each side, being 6 bdr 4 bath total
slab foundation, brick house,
built in 1975
1/2 acre, located in industrial area in middle of town. 38 mins from downtown Houston
outdated, but solid bones and roof. Hwy frontage next to dr office and community center.
Purchase price $130K, Rent $900 each side as is.
Down 25%
Interest 5.75
P&I :$570
Taxes $342
Insurance $100
Mortgage $1012
Rent $1800...
Cash needed $36,500 upfront (down payment and closing)
Turn key just outdated
Currently appraised for $165K
What would make this deal possible if any? I'm more intrigued with location than I am with the property.