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Houston Cash Cow 15-Plex $875k

2617 Napoleon St, Houston

ROI

27.00% IRR

Strategy

Long Term Rental

Walking distance to the University of Houston (50,000 students!). There are 15 renovated studio apartments. 13 of the 15 are currently occupied. Leases average $750 per door. Utilities paid by owner. Asking is $925k but I would start with an offer at $850k and try to land it right around $875k. Taxes $12033.

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Houston Cash Cow 15-Plex $875k

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2617 Napoleon St, Houston

Purchase Price:$875,000

Cash Outlay:$236,250

Cashflow:$2,506/mo

Cap Rate:9.27%

IRR:27.00%

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