Keene, NH - duplex #3

[Jeff Saunders]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $290,000
Sale price: $72,500

Two-story duplex, each unit with 2BR/1BA. Nice neighborhood just north of downtown Keene.

What made you interested in investing in this type of deal?

Found this opportunity appealing based on positive cashflow/favorable cash-on-cash return.

How did you find this deal and how did you negotiate it?

Worked with a local agent. Was able to negotiate some seller concessions based on a comprehensive property inspection and several needed repairs.

How did you finance this deal?

Traditional lender financing with 30-year fixed loan and 25% downpayment.

How did you add value to the deal?

Both tenants moved out while I was under contract to purchase. Managed a substantial rent increase with two newly qualified tenants.

What was the outcome?

Closed in June of 2024. So far so good. After some minor maintenance projects and improvements, have had very few issues and cashflow has been slightly better than expected.