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Occupied Duplex in 5th Ward with Rental Upside to Hit 1% Rule

4612 Hershe St, Houston
ROI
20.47% IRR
Strategy
Long Term Rental
Occupied duplex in 5th Ward with rental upside to hit 1% Rule. 3 bed units both currently rented 25% below market. Fully renovated in 2018 including new hvac, electrical, and plumbing. Two story 2,592 sq ft duplex built in 1938, totally renovated in 2018 with new electrical, plumbing, hvac. Both sides currently rented for $1350/mo with owner-paid water averaging $150/mo. Market rents $1700-1800/mo.

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Occupied Duplex in 5th Ward with Rental Upside to Hit 1% Rule

Listed 07/13/2023

4612 Hershe St, Houston

Purchase Price:$360,000

Cash Outlay:$97,200

Cashflow:$339/mo

Cap Rate:6.98%

IRR:20.47%

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