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Updated almost 8 years ago,
Triplex analysis help!!
Hey guys was wondering if I could get some feedback on this property! This would be my first rental property and if not its great practice!
Listed price: 250k Financing plan FHA 3.5% down payment. Property currently fully rented, so if FHA even an option seeing that I have to live in there? I cant just boot a tenant with a lease right?
Unit 1:3 bed 1 bath/ rent $1065
Unit 2&3: 2 bed 1 bath/ rent $940
Insurance $1600, taxes $6000
Current lease has OWNER paying for water - $2900 ( would have to suck it up until the lease is over )
Condition of the house doesn't appear to be too bad and in my opinion these units are under rented but of course wont pay for what COULD be, just saying that if these numbers work at all there is a chance of improving them.
Obviously want to factor Vacancy, Capex, repairs and property management.
Thanks in advance guys!