Triplex Exceeding the 1% Rule in Galveston $400k

5311 Perry Ave, Galveston

ROI

24.00% IRR

Strategy

Long Term Rental

Located in a beautiful Galveston neighborhood with very strong rental comps surrounding. Three units total (2) 2 beds and (1) 1 bed unit. One (2) bed is leased for $1800 and the 1 bed is leased for $1000. The remaining 2 bed unit will lease for $1800-$2000 per month. Owner pays utilities. This one will move quickly. I suggest an offer at $400k, 25% down, 7-day inspection contingency. Taxes $5000.

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Triplex Exceeding the 1% Rule in Galveston $400k

Listed 08/01/2024

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5311 Perry Ave, Galveston

Purchase Price:$400,000

Cash Outlay:$108,000

Cashflow:$784/mo

Cap Rate:10.29%

IRR:24.00%

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