Purchasing first Multi-Unit

[Braden Erickson]

My fiance and I are looking to purchase our first multi-family unit here in Kansas City. We are trying to crunch through the numbers and wanted to see what you all thought and receive some input or insights.

The following are the first two viable options in the Hyde Park area and both are professionally managed :

Option 1

Tri-plex, 3 story, each unit has 2 bedrooms

Age: 76-100 years, recently renovated

Price: $325,000

Gross income: $34,200

Gross Expense: $12,506

Net Income: $21,694

Annual Tax: $1,050

Option 2

Duplex: 2 bed unit, 3 bed unit

Age: 100ish years, recently renovated

Price: $340,000

Gross income: $31,800

Gross Expense: $10,074

Net Income: $21,726

Annual Tax: $800