Summary: Today’s list covers four multifamily deals ranging from a $260,000 two-unit property to a fully occupied Spring Branch fourplex producing more than $7,000 per month. There are options here for first-time investors, house hackers, and buyers ready to scale, with vacant units, recent improvements, and room to negotiate.
1) Houston Fourplex w/ $7,000+/mo Target $800K
Asset Quality B+ | Neighborhood Quality B+ | Year Built 1982
Four occupied units projected to be pulling at least $7,000 per month based on the most recent $1,750 lease, with comps supporting as much as $7,400. Each unit has three bedrooms, two bathrooms, private outdoor space, and dedicated storage. The seller paid $725,000 in 2023, and I do not believe the $889,000 list price is realistic. This becomes a phenomenal deal around $800,000. Ideal for an investor ready to move from smaller rentals into four units. The most recent lease was for $1750. I have not seen the full rent roll yet. I’m expecting the other leases are in a similar range.
9130 Vogue Ln Houston TX 77080
Sale Price | $ 800,000 | Cap Rate | 6.68% |
Cash Needed | $ 208,000 | Cash on Cash | 3.23% |
Monthly | Annual | ||
Income | $ 7,000 | $ 84,000 | |
Mortgage | 6.75% | $ 3,892 | $ 46,699 |
Tax | $ 1,333 | $ 16,000 | |
Insurance | $ 440 | $ 5,280 | |
Vacancy | $ - | $ - | |
Repairs | $ 210 | $ 2,520 | |
Utilities | $ - | $ - | |
Management | $ 490 | $ 5,880 | |
Lawn Care | 75 | $ 900 | |
HOA | 0 | $ - | |
NOI | $ 4,452 | $ 53,420 | |
Cashflow | $ 560 | $ 6,721 |
2) Fort Worth Duplex Producing $4,050/mo $439K
Asset Quality B | Neighborhood Quality B | Year Built 1975
Projected rent is $4,050 per month between two large three-bedroom units. One side is leased at $1,850 through March 2027, while the vacant side is expected to rent around $2,200. The 2021 roof and recent cosmetic updates reduce the immediate repair risk. This works as either a traditional rental or a house hack where the tenant helps cover the payment. Great for a house hacker or first-time multifamily investor.
8230 El Retiro Rd Fort Worth TX 76116
Sale Price | $ 435,000 | Cap Rate | 6.63% |
Cash Needed | $ 113,100 | Cash on Cash | 3.05% |
Monthly | Annual | ||
Income | $ 4,050 | $ 48,600 | |
Mortgage | 6.75% | $ 2,116 | $ 25,393 |
Tax | $ 725 | $ 8,700 | |
Insurance | $ 239 | $ 2,871 | |
Vacancy | $ 203 | $ 2,430 | |
Repairs | $ 122 | $ 1,458 | |
Utilities | $ - | $ - | |
Management | $ 284 | $ 3,402 | |
Lawn Care | 75 | $ 900 | |
HOA | 0 | $ - | |
NOI | $ 2,403 | $ 28,839 | |
Cashflow | $ 287 | $ 3,446 |
3) New Braunfels Duplex Producing $3,400/mo $365K
Asset Quality B | Neighborhood Quality B+ | Year Built 1985
Market rent is approximately $3,400 per month on a $365,000 purchase. One two-bedroom unit is occupied at $1,660, and the second unit is vacant for an owner-occupant or new tenant. A roof installed approximately one month ago removes one of the largest near-term expenses. This is a simple entry into New Braunfels with no HOA and two full two-bedroom, two-bath units. Perfect first investment or house hack.
354-356 Bobolink Dr New Braunfels TX 78130
Sale Price | $ 365,000 | Cap Rate | 6.59% |
Cash Needed | $ 94,900 | Cash on Cash | 2.91% |
Monthly | Annual | ||
Income | $ 3,400 | $ 40,800 | |
Mortgage | 6.75% | $ 1,776 | $ 21,306 |
Tax | $ 608 | $ 7,300 | |
Insurance | $ 201 | $ 2,409 | |
Vacancy | $ 170 | $ 2,040 | |
Repairs | $ 102 | $ 1,224 | |
Utilities | $ - | $ - | |
Management | $ 238 | $ 2,856 | |
Lawn Care | 75 | $ 900 | |
HOA | 0 | $ - | |
NOI | $ 2,006 | $ 24,071 | |
Cashflow | $ 230 | $ 2,765 |
4) Houston Two-Unit Property Producing $2,350/mo $260K
Asset Quality C | Neighborhood Quality C | Year Built 1940
Projected rent is $2,350 per month at a $260,000 purchase price. The rear unit is already leased at $1,100, while management is marketing the vacant front unit at $1,250. The two detached homes give the owner more privacy and flexibility than a traditional duplex. This is the lowest entry price on today’s list and gives a newer investor two income streams instead of one. Ideal for a first-time investor or house hacker.
8709 Knox St Houston TX 77088
Sale Price | $ 260,000 | Cap Rate | 6.21% |
Cash Needed | $ 67,600 | Cash on Cash | 1.44% |
Monthly | Annual | ||
Income | $ 2,350 | $ 28,200 | |
Mortgage | 6.75% | $ 1,265 | $ 15,177 |
Tax | $ 433 | $ 5,200 | |
Insurance | $ 143 | $ 1,716 | |
Vacancy | $ 118 | $ 1,410 | |
Repairs | $ 71 | $ 846 | |
Utilities | $ - | $ - | |
Management | $ 165 | $ 1,974 | |
Lawn Care | 75 | $ 900 | |
HOA | 0 | $ - | |
NOI | $ 1,346 | $ 16,154 | |
Cashflow | $ 81 | $ 977 |
Considering an offer? Let’s talk next steps.
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