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Occupied Duplex with Cashflow From Day One and Significant Upside in Rents

12309 Ormandy St, Houston
ROI
21.18% IRR
Strategy
Long Term Rental
Occupied duplex with cashflow from day one and significant upside in rents. One side completely renovated, other unit has new roof, paint, & fence. Currently leased for $2900/mo about 10% below market. Occupied duplex with a 3 bed unit leased for $1650/mo and 2 bed unit leased for $1250/mo, both housing vouchers. Tenants pay electric and gas, landlord pays water. Market rents support $1800+/mo for 3 bed and $1500+/mo for 2 bed (increase already applied for with housing authority), hitting the 1% Rule.

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Occupied Duplex with Cashflow From Day One and Significant Upside in Rents

Listed 03/21/2023

12309 Ormandy St, Houston

Purchase Price:$345,000

Cash Outlay:$93,150

Cashflow:$382/mo

Cap Rate:7.17%

IRR:21.18%

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