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Updated over 5 years ago,
West Palm Beach Triplex
Could use help making a final decision. Here's what I have;
West Palm Beach triplex
322k
Unit 1: 2/1
1,050 sqft
Rented for 1,175 until 3/1/2018
Unit 2(upstairs to unit 1): 2/1
970 sqft
Rented for 1,300 until 12/1/17
Unit 3 (detached with private parking): 1/1
620 sqft
Rented for 900 until 3/1/18
Has a one car garage that I can convert to a 2nd bedroom (estimated cost 5k)
Built in 1929 bought two years ago by seller
Claiming to have done 130k worth of work
Both building are flat roofed
Separate electrical and owner pays water
Last triplex sold august, 2016 for 302k that had smaller units
Financing:
3.5% down fha 4%
P&I: 1,477.50
Taxes: 443 monthly
Insurance: 384 monthly (high estimate)
(I will live in extra built room in unit 3 for 6 months)
Good or bad deal?