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Updated almost 5 years ago,

User Stats

6
Posts
1
Votes
Modtrice Ford
  • Real Estate Agent
  • Killeen, TX
1
Votes |
6
Posts

18 Doors for 1.9 mil. Is it a good deal?

Modtrice Ford
  • Real Estate Agent
  • Killeen, TX
Posted

I came across this deal on Loopnet. It is a 9 duplex portfolio with an asking price of 1,935,000.00 which equals $215,000.00/building or $107,500/door. All were built in 2014. 13 doors are 3/2 and the other 5 are 2/2. I don't have exact rents but I would say by the market about $900-1100 for the 2/2 and at-least $1100-1300 for the 3/2. Taxes in the area are at 2.492%. Its funny, as I am writing this I literally just told myself to use the calculator but hey why not start a debate! 

I just thought it was an interesting find. Probably what is killing the deal is the down payment that would be required. you could not go FHA or VA so conventional would be the only choice. 20% down would be almost 400k! Or maybe the T&I are eating up the profit. I haven't considered maintenance either. They are newer builds so I would not imagine it being terrible but if you get a bad tenant that could be a problem. If 1.9 mil isn't feasible what would make this a great deal?

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