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Town Home-Style Fourplex Hitting the 1% Rule Near Texas A&M

2804 Leroy Circle, Killeen
ROI
20.14% IRR
Strategy
Long Term Rental
Townhome-style fourplex hitting the 1% rule near Texas A&M. Currently occupied with 3 leases expiring one month after closing, all 25-30% below market rent. Occupied fourplex built in 2003 with townhome-style units. Two 2 bed, 1.5 bath units and two 3 bed, 1.5 bath units. Three units leased for $695-750/mo ending 5/2023, one unit leased for $900/mo until 2/2024. Market rents $950-1000 for 2 bed units, $1100-1200/mo for 3 beds.

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Town Home-Style Fourplex Hitting the 1% Rule Near Texas A&M

Listed 03/27/2023

2804 Leroy Circle, Killeen

Purchase Price:$395,000

Cash Outlay:$116,650

Cashflow:$491/mo

Cap Rate:7.15%

IRR:20.14%

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