Looking for Market Recommendations: Income-Producing Duplex or Triplex Investment

[Dominic Petoral]

My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We are looking to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.

We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We've been researching Binghamton, NY, but we're noticing that it has an older tenant base and isn't experiencing much growth.

Does anyone have recommendations for markets that fit these criteria? Ideally, we are looking for:

- Affordable multifamily units (~$100K-$125K)

- Decent cap rates (8-10%)

- Stable rental demand with reliable tenants

- A relatively safe neighborhood

- Limited renovations required

Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!