Deal Analysis: $725k Council Crest Triplex - Seller Finance - House Hack

Real Estate Deal Analysis & Advice
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Deal Analysis: $725k Council Crest Triplex - Seller Finance - House Hack

Kristiani SangervasiPro Member
Member since 2024 · 3 posts · 0 votes

The Property:

  • Location: Council Crest, Portland, OR
  • Price: $725,000 (Off-Market / FSBO)
  • Type: Triplex (2x 1,000sqft 2BR/1BA units + 1x 650sqft Studio)
  • Total Sq Ft: 2,650

The Strategy:

I’m looking to house-hack by living in one of the 1,000sqft 2BR units. I am currently between jobs, so I’m proposing a Seller Finance deal to the owner to bypass traditional bank underwriting. I have $135k in total liquid capital ($100k of which is in a brokerage account).

Proposed Financing:

  • Down Payment: $100,000 (13.8%)
  • Interest Rate: 6% (Estimated for Seller Carry)
  • Amortization: 30 years with a 5-year balloon.
  • Est. Monthly P&I: $3,747
  • Est. Taxes/Insurance: $900
  • Total PITI: ~$4,647

Projected Rents (Market):

  • Unit 2 (1,000sqft 2BR): $2,300
  • Unit 3 (Studio): $1,500
  • Total Rental Income (while occupying): $3,800

The Math:

  • Net Monthly Housing Cost: ~$847/month.
  • Reserves: I'll have ~$35,000 in cash reserves left for CapEx/Repairs.

Questions for the Forum:

  1. 1) Given my current unemployment, is a $100k down payment enough "skin in the game" to make a seller comfortable in this high-end neighborhood?
  2. 2)Are my rental projections for Council Crest 2BRs ($2,300) realistic for 2026?
  3. 3)What specific risks should I look for in West Hills properties (slopes, older infrastructure) that might eat my $35k reserves?
  4. 4)Should I try doing the seller Finance or is there another "safer" way to do this even as I am currently not employed?
  5. Thank you all for your input!
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Most Popular Reply

Chris Watkins
Lender · Eugene, OR · Member since 2021 · 245 posts · 154 votes
9mo

1) Each transaction is different, but $100k is <15% down, so that may not be enough. If you know how much they need to get out of the deal (what their loan balance is) that can be helpful information for negotiation. Why are they selling? Do they need cash, or would a monthly payment be better for them? Seller financing is only something you propose if it is best for the seller.

2) Look at rentometer to get a decent barometer of estimated rents

3) An inspection and foundation inspection are going to be critical. Mold may be another issue in the West Hills

4) If all units are vacant, you can expect at least 2 months of vacancy until they are filled at market rents in the winter. Make sure to budget that in. Do you have other money available? $35k in reserves for your living expenses as well as property reserves is a little tight.

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  • Chris Watkins
    Lender · Eugene, OR · Member since 2021 · 245 posts · 154 votes
    9mo

    1) Each transaction is different, but $100k is <15% down, so that may not be enough. If you know how much they need to get out of the deal (what their loan balance is) that can be helpful information for negotiation. Why are they selling? Do they need cash, or would a monthly payment be better for them? Seller financing is only something you propose if it is best for the seller.

    2) Look at rentometer to get a decent barometer of estimated rents

    3) An inspection and foundation inspection are going to be critical. Mold may be another issue in the West Hills

    4) If all units are vacant, you can expect at least 2 months of vacancy until they are filled at market rents in the winter. Make sure to budget that in. Do you have other money available? $35k in reserves for your living expenses as well as property reserves is a little tight.

    1Reply
  • Kristiani SangervasiPro Member
    OP
    Member since 2024 · 3 posts · 0 votes
    9mo
    Hi Chris,
    Thank you for your in put it is very valuable to getting a idea of what I should think about as a first time real estate investor. Since seller financing is mainly more in the benefit of the seller and my financial budget is fairly low, do you have any suggestions as to other methods of loans that might allow me to invest in this property?

    Thank you!
    0Reply
  • Chris Watkins
    Lender · Eugene, OR · Member since 2021 · 245 posts · 154 votes
    9mo

    I don't necessarily think you shouldn't approach the seller with SF as an option, but you need to talk with them and get to know their needs and be able to craft an offer that addresses those. SF can work great for both parties. Depending on your relationship with the seller, you may be able to negotiate a low down payment that allows you a little more breathing room cash. How did you come across this property?

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 375 votes
    9mo

    Totally agree - loan balance is gold. One thing I'd add: try to get the payment history too if you can. Someone who's been current for years vs behind 3 months changes everything about how motivated they really are. How do you usually find out their loan details without being too pushy?

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