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Renovated Duplex with Garage Apartment Hitting 1% Rule

3926 Farmer St, Houston
ROI
22.28% IRR
Strategy
Long Term Rental
Renovated duplex with garage apartment hitting 1% Rule. One duplex unit and the garage apartment are occupied at $1100/mo each, expiring 3/31/24 and 5/31/24. Second duplex unit is vacant and ready for a househacker or tenant. Excellent cashflow in a C-grade neighborhood in the Greater Fifth Ward. Freshly renovated triplex built in 1948. Duplex units are each 2 bed, 1 bath, 710 sq ft. One is leased for $1100/mo and one is vacant. The garage apartment is 550sq ft and leased for $1100/mo through 5/31/24.

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Renovated Duplex with Garage Apartment Hitting 1% Rule

Listed 11/28/2023

3926 Farmer St, Houston

Purchase Price:$315,000

Cash Outlay:$85,050

Cashflow:$372/mo

Cap Rate:7.86%

IRR:22.28%

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