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800K Triplex - need a place to live and rent out the other two, would you?

It's in an expensive area, Seattle market.

It's on MLS, so not a pocket deal.

It's been sitting a while, so probably can grab it a bit cheaper + closing costs.

800K means jumbo loan, not just FHA (probably the biggest issue here.)

2 x 2 bedrooms. Median rent in the area is 1600-1900.

1x 1 bedroom (where i'd live and airbnb out when I'm not in town.)

At 4% downpayment, it looks to be about $4200/month.

At 20% downpayment it drops down to $3200/month.

4% = 30,000 20% = 152,000.

I'm tired of renting in the Seattle area, but also I kinda hate the area but I do understand the housing crunch, my work always involves seattle (tech) and Triplex always seem to hold value, and the area within an year will be open to more public transit / train.

At what point does it make sense? Even at 4% cost w/ high interest - it's cheaper than renting a studio at $1600/month.

submitted by /u/careago_
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ehzzqf/800k_triplex_need_a_place_to_live_and_rent_out/
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