$400k, 1 to 4 unit property with 1% rule. Anywhere?

[Phil Mcnally]

Hi All

Conventional loans for residential property cover single family, duplex, triplex or fourplex. If I want to maximise each available loan without going into jumbo loan territory ($424k limit) it would be ideal to find a property that costs around $400k with a combined rent of at least $4000 a month to meet the 1% rule.

Where do these exist? 

I am thinking of a nice fourplex renting at $1000+ per unit. But in general more expensive areas that might have $400k fourplexes probably do not have good rent ratios.

Does anyone know of an area that satisfies this particular criteria?

cheers...phil