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Rent-Ready Fourplex Hitting the 1% Rule in the Second Ward

14 Norwood St, Houston
ROI
20.95% IRR
Strategy
Long Term Rental
Rent-ready fourplex hitting the 1% Rule in the Second Ward. Strong cashflow potential with a mix of 1-2 bed units. Single story built in 1935 with three 1 bed units and one 2 bed unit. Two remodeled in 2022 with granite counters, new cabinets, laminate floors. Other two units were remodeled in 2007. Working class neighborhood in a convenient location 5 minutes from downtown. Some new construction and gentrification occurring in the neighborhood.

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Rent-Ready Fourplex Hitting the 1% Rule in the Second Ward

Listed 04/19/2023

14 Norwood St, Houston

Purchase Price:$405,000

Cash Outlay:$114,350

Cashflow:$455/mo

Cap Rate:7.11%

IRR:20.95%

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