Analysis
I am currently looking for my first investment deal and am very interested in multi family. I am looking out of state because I live in an extremely expensive area of California where a typical mobile home is 300k plus. I got my eye on Texas and am curious to know what you guys think. This particular property is in Austin Texas.
I am looking at a 5 unit In Austin.
$450,000 asking price
3.9% cap rate
2,398 square feet building
Garden low rise
100 percent occupancy with rents ranging from 650 to 750
NOI: 17,550
New roof and new hvac systems heating and ac
Is this a good investment guys? I currently have a 740 credit score, no debt and about 20k cash for a down payment.