Deal Analysis Advice - Triplex

[Alexander Griffin]

Hey guys I need some help figuring out if this Triplex opportunity is a deal or not.

Purchase price: 150,000

It’s located in a rapidly growing part of Houston, TX (Independence Heights) with a lot of investor activity.

Property Facts:

Built in 1950. Two of the three units are currently occupied. The occupied units are two bedrooms the unoccupied is a 1 bedroom.

Unit 1 2Br 1 Ba

Unit 2 2Br 1 Ba

Unit 3 1Br 1Ba

Rent per units is $900. Gross $2700. Owner pays $650 a month for expenses. Net after expenses is $2,050. Yearly taxes are $2,400.

Property overall is in fair condition. The unoccupied unit has some bedroom ceiling damage, and need new countertops