Looking for Market Recommendations: Income-Producing Duplex or Triplex Investment

New York, New York
General Real Estate Investing
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Looking for Market Recommendations: Income-Producing Duplex or Triplex Investment

Dominic Petoral
Member since 2025 · 10 posts · 6 votes

My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We are looking to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.

We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We've been researching Binghamton, NY, but we're noticing that it has an older tenant base and isn't experiencing much growth.

Does anyone have recommendations for markets that fit these criteria? Ideally, we are looking for:

- Affordable multifamily units (~$100K-$125K)

- Decent cap rates (8-10%)

- Stable rental demand with reliable tenants

- A relatively safe neighborhood

- Limited renovations required

Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!

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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
1y

Lots to unpack here, but I generally agree with @Nicholas L.

You are not going to get what you desire at this price point. I will say that I help investors do duplexes in Detroit, all-in, sometimes in the $120k range. These are C/C+ areas and, when done, they are worth $160,000+

And that's the catch. These people are buying them cash (usually in the $60,000 range) and dumping another $50,000 - $60,000 into a rehab. 

So, yes, if you're willing to do that you can achieve what you're talking about. 

But trying to find something in the $100k-$120k range that's occupied and needs very little work? It basically doesn't exist outside of a D class area, and you really don't want that.

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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Dominic Petoral

    just to be candid, your goals are not achievable in that price range.  i would wait and save up more.  i also would not recommend partnering - returns on a single property do not justify it.

    can you house hack instead?

    2Reply
  • Dominic Petoral
    OP
    Member since 2025 · 10 posts · 6 votes
    1y

    How much would you recommended to save up if I'm at 25k right now without house hacking?

    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    I can't say specifically since I only know what you posted, but first you need to make sure your own financial house is in order (savings, etc.) - and then for a property, you need down payment + closing costs + reserves.  And that is going to be specific to a property.

    0Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    1y

    @Dominic Petoral, at this price point, the property will be in an absolute war zone in most markets. As others have noted, I highly advise saving up more and house-hacking your first deal to gain entry into real estate investing. 

    2Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    1y

    Lots to unpack here, but I generally agree with @Nicholas L.

    You are not going to get what you desire at this price point. I will say that I help investors do duplexes in Detroit, all-in, sometimes in the $120k range. These are C/C+ areas and, when done, they are worth $160,000+

    And that's the catch. These people are buying them cash (usually in the $60,000 range) and dumping another $50,000 - $60,000 into a rehab. 

    So, yes, if you're willing to do that you can achieve what you're talking about. 

    But trying to find something in the $100k-$120k range that's occupied and needs very little work? It basically doesn't exist outside of a D class area, and you really don't want that.

    3Reply
    • Dominic Petoral
      OP
      Member since 2025 · 10 posts · 6 votes
      1y

      @Travis Biziorek,

      how much do you think one should raise for these for a duplex that has minimal rehab and strong tenants and able to get a 20-25% loan

      and where would you think are the best markets for these B-C class buildings (correct me if I am wrong about the type of class building you are describing with this specific criteria)

      Thank you for the piece of mind and strategy. Happy to connect to learn more!

      0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Dominic Petoral you're not going to find everything on your list:(

    Your price point & funds are going to lead to a Class C property, which you better understand the differences from Class A & B rentals. 

    That said, Metro Detroit will give you most of what you want. 

    Let us know how we can help...

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    1Reply
  • John Mason
    Member since 2024 · 1k+ posts · 351 votes
    1y

    @Dominic Petoral  great question and even I was looking and found this

    https://nelsonpropertymanagement.com/best-areas-invest-metro...

    https://www.evernest.co/blog/5-best-places-to-invest-in-detr...

    1Reply
    • Dominic Petoral
      OP
      Member since 2025 · 10 posts · 6 votes
      1y

      @John Mason 

      Thank you for the insight John. I will take a look at these and we can further discuss where you heads at with my decision making that I'll assess.

      0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    1y

    @Dominic Petoral would it help to have a list of Detroit's 183 Neighborhoods color-coded as Class A, B, C or D?

    Logical Property Management4.9453 Reviews
    WebsiteView Page
    2Reply
  • Ben FernandezBusiness Member
    Realtor · Lancaster, PA · Member since 2025 · 169 posts · 97 votes
    1y

    Give me a call when you can. (717)945-7040. I have several of those right now. Central PA is a great market. I'm a licensed realtor with 18 years experience in several investment strategies.

    [email protected]717-945-7040
    0Reply
  • Hayley Beckman
    Member since 2025 · 23 posts · 14 votes
    1y

    Hey there, Have you ever considered investing in Detroit , Michigan? I like the market because it offers Positive cash flow deals, strong appreciation and the ability to source deals with equity in them. It is rare to find a market that hits all three points. Granted, it has its risks and not everything is going to go smooth, but with the right team on the ground you could experience success.

    Detroit is experiencing one of the biggest revitalizations in US history, I love the city right now for the appreciation potential in the next 3-5 years. 

    Let me know if you want to chat, I'd love to share my experience thus far!

    1Reply
  • Mohammed Rahman
    Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
    1y

    Based on what you've described, my first suggestion is to make sure you've got your personal finances squared away first—meaning enough cash set aside for down payment, closing costs, and reserves, because that's going to vary with each deal.

    But honestly, at the price point you're targeting ($100K-$125K) with minimal work and stable tenants already in place, you're going to have a tough time finding that in a decent neighborhood. For context, I help investors buy duplexes in Detroit that end up around $120K total investment, but that's usually after buying them cash around $60K and then putting another $50-60K into renovations. These are typically C to C+ areas, and afterward, the properties appraise closer to $160K or more.

    So, if you're open to the idea of buying something that needs rehab and investing more into it, you can definitely hit your goals. But realistically, finding something turnkey at your budget and preferred location is extremely tough. Anything you find at that price point without needing much work is probably going to be in a D-class area, and trust me, you don’t want the headaches that come with that.

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