First Duplex Deal in Iowa

[Eric Reed]

Investment Info:

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

Purchase price: $59,950

Cash invested: $12,000

Cash flow: $425

Duplex (2 bed/1 bath) in Cedar Rapids

Needs some work, but purchased with 20% down commercial loan, and with tenants already in place who extended for 12 months (previously month to month)! Looking at $1,025/month rent on a $600/month PITI, so cash flow is $425/month.

We're excited!