Updated almost 5 years ago on . Most recent reply
Duplex rental in Rochester
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Rochester.
Purchase price: $100,000
Cash invested: $25,000
Cash yield focus. 9% cap rate ( with 5% repair and 1 month vacancy reserves) / 20% IRR (1% growth and 0 appreciation)
Looking to accumulate more multi family units in Rochester
What made you interested in investing in this type of deal?
Base case: property tax cap / limited new city supply should support current rent with inflation adjusted rent growth
Upside: U of Rochester and RIT could lead to area job growth; high mix of millennials