4-plex located in single family neighborhood

[Sebastian Roy]

Hello BP,

I seen a potential lead on MLS recently, a 4-plex located in a single family neighborhood. I was wondering about the positives and negatives to this scenario.

It may be beneficial because their would likely be a high demand seeing how the supply is so low, but on the flip side, I'm thinking there is no other multifamily properties because there isn't enough demand in the neighborhood. I believe in the BRRRR book, David Greene said to be cautious in a neighborhood like this, for the very reason being that it is a warning that there isn't a high demand.

I will be house hacking it and it is also in a less populated, lower income area.

Thanks!