HOUSTON MULTI-FAMILY EXPERTS

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How much do duplexes cost in Houston?

This figure ranges widely in Houston. You can find  is all over the map depending on where you're looking. It is possible to still get a Houston duplex in the $200k's but you might not be happy with the neighborhood. On the other end of the spectrum the sky's the limit for Museum District brick duplexes or duplexes in the Heights. If you can budget between $400k-$700k you can usually find some good examples of quality Houston duplexes with good rents.

Can I get a mortgage for a Houston duplex?

Yes, it is possible to get a mortgage on a duplex. That's one of the best things about duplexes - if you plan to live in one side you can usually get a conventional 30-year financing the same way you can with a single family home. The terms and rates should be very similar (depending on your credit and income). The best part is you can use the income from the other half to offset your mortgage. We've have some clients that pay their entire Principal & Interest with that rental income! You can still get financing if you don't plan to live in one half, but you may pay a higher rate because then it's considered an investment loan and higher risk.

Can I finance a Houston duplex with an FHA Loan?

Yes, you can use FHA financing to buy a duplex if you plan to live in one half. That can help you get into a duplex with a lower down payment, and it's especially popular with first-time buyers. The property will have to meet all the FHA requirements and you'll have to pay for Private Mortgage Insurance (PMI). 

Are Houston duplexes a good investment?

Well, that's the question it comes down to isn't it? And we can't give you a straight yes or no answer here. Houston Duplexes can be a good investment, but that depends on your own individual situation and investment goals. We have seen a lot of first-time buyers qualify for a duplex because they can count the income from one side as part of their annual income to qualify for the loan. And then that income offsets the payment which helps the owner occupant save money each month. We strongly recommend you talk with your own CPA and/or Financial Planner to determine whether investing in a duplex is right for you. It's important to keep in mind that real estate is not liquid - it could take a while to sell it and there are expenses involved. And the last thing you want to do is get into a position where you HAVE to sell. Real Estate is cyclical and investors who get into a cash bind in a down market are the ones who typically lose money on their investment.