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Updated about 5 years ago on . Most recent reply
I duplex/triplex always a better deal than single family home?
Is the multifamily apartment always a better deal than a single family home if both types of properties are in same neighborhood, same price? How do you look up comparative prices on multifamily homes? Rentometer has a max limit search of 6 bedrooms and doesn't have a triplex filter. I'm considering between Cincinatti residential properties that are duplex/triplex vs single family.
Most Popular Reply

Originally posted by @Susan Tan:
Is the multifamily apartment always a better deal than a single family home if both types of properties are in same neighborhood, same price? How do you look up comparative prices on multifamily homes? Rentometer has a max limit search of 6 bedrooms and doesn't have a triplex filter. I'm considering between Cincinatti residential properties that are duplex/triplex vs single family.
No, the multifamily may not be a better deal. You have to look at the financials. These same things exist in my area, and you'll have something like:
house for 100k renting for $1k
house converted to triplex for $100k renting for $1500
Now on the surface you'd say the triplex is a home run. But as you look into it you see:
no separate water meters so the owner pays
no separate electric meters so the owner pays
no separate gas meters so the owner pays
have to pay trash
have to mow/handle snow
higher property management fees
etc
So the single family might be making way more money at the same price, despite the fact that the triplex has $500 a month more rent. And then you have to look at the roof and the fact that 3 units has 3 times as many furnaces/ac's in some cases that may need replacing.
A lot properties look like gold mines on the surface when they're really anchors.