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Fourplex Hitting the 1% Rule in Northern Houston

2542 Cromwell St, Houston
ROI
24.06% IRR
Strategy
Long Term Rental
Fourplex hitting the 1% rule in northern Houston. Two 4 bed units, one 2 bed, and one 1 bed. Recent price drop with motivated sellers. 2,120 sq ft quadplex built in 1940. Two 4 bed units (market rents $1400-1500/mo), one 2 bed unit (market rent $1100-1200/mo), and one 1 bed unit (market rents $800/mo).

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Fourplex Hitting the 1% Rule in Northern Houston

Listed 10/03/2023

2542 Cromwell St, Houston

Purchase Price:$490,000

Cash Outlay:$132,300

Cashflow:$786/mo

Cap Rate:7.76%

IRR:24.06%

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