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Cash Cow Section 8 Duplex in Houston $409k

7816 Gladstone St, Houston
ROI
27.99% IRR
Strategy
Long Term Rental
2007 build for minimal maintenance. Each unit is large with 4 bedrooms and 2 baths in each. It’s a prime setup for a Section 8 housing play. Tier D 4-bedroom units in 77051 are approved for up to $2400 per month per unit by the Houston housing authority. Current tenants are market-rate tenants paying $1695 and $1550. Both current tenants are on month-to-month leases. Taxes 7898.

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Cash Cow Section 8 Duplex in Houston $409k

Listed 07/16/2024

7816 Gladstone St, Houston

Purchase Price:$409,000

Cash Outlay:$110,430

Cashflow:$1,061/mo

Cap Rate:11.46%

IRR:27.99%

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