Triplex Deal Analysis.

[Alexander Griffin]

Hey guys I need some help figuring out if this Triplex opportunity is a deal or not.

Purchase price: 150,000

Estimated repairs: 10-20K

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 unit is $900. Gross $2700. Owner pays $650 a month for expenses. Net after expenses is $2,050. Yearly taxes are $2,400. No HOA fees.

Property overall is in fair condition. The unoccupied unit has a hole in the bedroom ceiling and needs countertop updates in the kitchen. It could also use some cosmetic touches in the bathroom as well.