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Value-Add Fourplex $190k Below Appraised Value

17 Norwood St, Houston
ROI
16.89% IRR
Strategy
Long Term Rental
Value-add fourplex $190k below appraised value. Cashflow positive with current leases hitting the 1% Rule. Landlord pays utilities. Close to East River development project. Inspection available, significant work required on this one - foundation leveling, deferred maintenance, plumbing & electrical repairs, etc.

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Value-Add Fourplex $190k Below Appraised Value

Listed 12/15/2023

17 Norwood St, Houston

Purchase Price:$550,000

Cash Outlay:$238,500

Cashflow:$372/mo

Cap Rate:6.26%

IRR:16.89%

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