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

[Dominic Petoral]

Hey BP community,

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’d like 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 have been researching Binghamton, NY, but we have been 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're looking for:

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

- Decent cap rates (8-10%)

- Stable rental demand with reliable tenants

- A 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!

[Kerlous Tadres]

Quote from @Dominic Petoral:

Hey BP community,

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’d like 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 have been researching Binghamton, NY, but we have been 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're looking for:

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

- Decent cap rates (8-10%)

- Stable rental demand with reliable tenants

- A 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!

Hey Dominic, 
Welcome to BP! I would suggest looking into parts of Ohio such as Dayton, Toledo, and Cleveland for affordability and cash flow.Once you choose the market I would start building your CORE 4 which consists of a great realtor, contractor, property manager, and attorney