Houston *Value-Add* Occupied Duplex $335k
4340 Phlox St, Houston
ROI
14.88% IRR
Strategy
Long Term Rental
Fully occupied with each tenant paying $1,500 per month, below market rates. Similar 4-bed units lease for $1,800-$2,100 per door after renovations. New roof in 2023, water heaters replaced in 2023, paint and floors updated in 2023, and AC replaced in 2020. Tenants have been in place since 2017 and 2019. Strong cash flow with major value-add potential. Good for an out-of-state owner to self-manage or hire a PM for hands-free ownership. Taxes are $6,325.
