Deal Analysis Advice - Triplex
Hey guys I need some help figuring out if this Triplex opportunity is a deal or not.
Purchase price: 150,000
It’s located in a rapidly growing part of Houston, TX (Independence Heights) with a lot of investor activity.
Property Facts:
Built in 1950. Two of the three units are currently occupied. The occupied units are two bedrooms the unoccupied is a 1 bedroom.
Unit 1 2Br 1 Ba
Unit 2 2Br 1 Ba
Unit 3 1Br 1Ba
Rent per units is $900. Gross $2700. Owner pays $650 a month for expenses. Net after expenses is $2,050. Yearly taxes are $2,400.
Property overall is in fair condition. The unoccupied unit has some bedroom ceiling damage, and need new countertops