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Updated about 6 years ago,
1st house hack - Triplex
Good morning all,
Single 30year old male who has a good job and has been renting for the last 4 years. I finally decided it would be wise to purchase a multi family home and house hack. Below is the current property what I am looking at. I would appreciate any insight.
Triplexes a hot area
Purchase price -$570k
Taxes - $7500
Insurance- $4200
30 year conventional equates to $3115 per month with 25% down
Two units are 2br/2ba
One unit is 1br/1ba
I am planning on living in one of the 2br units
The 1 br unit is currently occupied with a tenant that is far below market value at $900 per month
I currently pay $1445 in rent
Rentometer is telling me the median rent for a 2 br is around $1500 and a 1 br is around $1350.
The 2br units have been recently renovated. 1 br is older style however in good condition.
Thoughts on househacking when the cost of a property is this high? Thanks in advance!