Grow your real estate investing business with the most competitive and transparent private lender for bridge loans (hard money, fix & flip, rehab, ground up construction), DSCR rental loans.

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Private Lender for DSCR Loans and Fix & Flip Loans

The offer you have received is typically contingent upon the results of a home inspection. The buyer may try to re-negotiate or cancel the Purchase And Sale Agreement once they have reviewed the home inspection report.

 

With OfferMarket, there are no inspection contingencies. This means you don't need to deal with post-inspection negotiations or cancelled contracts.

The offer you have received is typically contingent upon the results of a home inspection. The buyer may try to re-negotiate or cancel the Purchase And Sale Agreement once they have reviewed the home inspection report.

Inspection Contingency - Real Estate Glossary - OfferMarket

What is an Inspection Contingency in real estate?

## What is a triplex?

 

A triplex is a 3-unit income producing residential property. Unlike a single family residence, a triplex contains three completely separated living units under one roof:

 

- 3 entrances (three different keys and locks)
- 3 kitchens
- 3 separate utility meters (typically)

 

Accordingly, triplexes are considered to be multifamily investment properties.

 

 
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## Triplexes 

 

Triplexes are more attractive than SFRs and duplexes to many rental property investors because they qualify for residential (non-commercial) mortgage loans and allow an investor to diversify tenants while being one common housing structure to maintain and manage. Many investors would much prefer owning and managing a triplex instead of 3 small single family houses.

 

## Triplex house hacking

 

Triplexes are fantastic for [house hacking](https://www.offermarket.us/real-estate-glossary/house-hacking) as you can live in one unit and rent out the other two units. If you buy at the right price using a conventional loan or a [DSCR loan](https://www.offermarket.us/blog/dscr-loan-program), you can expect to live rent free or even get paid to live in the property.

 

Let's say you buy a triplex for $300,000 with 20% down. You live in one unit and you rent out the other two units for $1,250 each (market rent in your area). If you assume a 7% interest rate, $4,500 annual property tax, $2,000 annual insurance, a $1,000 annual maintenance expense, you're pulling in $261 in monthly free cash flow -- your tenants are paying your mortgage and all of your costs and you're getting $261 to live in the house. That's a pretty sweet deal! Analyze the deal with our favorite [rental property calculator](https://www.calculator.net/rental-property-calculator.html?cprice=300000&cuseloan=yes&cdownpayment=20&cinterest=7&cloanterm=30&cothercost=3000&cneedrepair=no&crepaircost=10000&cafterrepairvalue=150000&ctax=4500&ctaxincrease=3&cinsurance=2000&cinsuranceincrease=3&choa=0&choaincrease=3&cmaintenance=1000&cmaintenanceincrease=3&cother=200&cotherincrease=3&crent=2500&crentincrease=3&cotherincome=0&cotherincomeincrease=3&cvacancy=0&cmanagement=0&cknowsellprice=no&cappreciation=3&csellprice=200000&cholding=20&csellcost=8&printit=0&x=41&y=18). 

 

## Triplex for sale

 

Triplexes are in high demand among rental property investors. Depending on your target market, finding a triplex for sale may not be easy. The availability of triplexes varies based on investor demand and zoning in your local market. Here is where you can find triplexes:

 

- [Triplexes for sale on Zillow](https://www.zillow.com/homes/for_sale/?searchQueryState=%7B%22pagination%22%3A%7B%7D%2C%22mapBounds%22%3A%7B%22west%22%3A-104.36094265342443%2C%22east%22%3A-74.08262234092443%2C%22south%22%3A23.932391428896565%2C%22north%22%3A44.62672067598041%7D%2C%22mapZoom%22%3A5%2C%22isMapVisible%22%3Atrue%2C%22filterState%22%3A%7B%22con%22%3A%7B%22value%22%3Afalse%7D%2C%22apa%22%3A%7B%22value%22%3Afalse%7D%2C%22ah%22%3A%7B%22value%22%3Atrue%7D%2C%22sort%22%3A%7B%22value%22%3A%22days%22%7D%2C%22sf%22%3A%7B%22value%22%3Afalse%7D%2C%22land%22%3A%7B%22value%22%3Afalse%7D%2C%22tow%22%3A%7B%22value%22%3Afalse%7D%2C%22manu%22%3A%7B%22value%22%3Afalse%7D%2C%22apco%22%3A%7B%22value%22%3Afalse%7D%2C%22att%22%3A%7B%22value%22%3A%22Triplex%22%7D%7D%2C%22isListVisible%22%3Atrue%7D)
- [Triplexes for sale on Redfin](https://www.redfin.com/city/9170/IN/Indianapolis/filter/remarks=triplex,viewport=41.26116:36.65066:-73.95925:-81.52883,no-outline)
- [Triplexes for sale on OfferMarket](https://www.offermarket.us/listings)
- [Triplexes for sale on Facebook Real Estate Marketplace](https://www.facebook.com/groups/326051528838367/)
- [Triplexes for sale on Craigslist](https://dallas.craigslist.org/search/rea?query=triplex#search=1~gallery~0~0)
- [Triplexes for sale from wholesaler buyer's list](https://www.offermarket.us/survey/subscribe/deal-flow)

 

## Triplexes for sale by city

 

Here are triplexes for sale on our investment property marketplace in cities that are popular among rental property investors:

 

- [Triplex for sale Atlanta](https://www.offermarket.us/listings?mapBounds=-81.04601327475413,-86.42101467305201,35.07806201442489,32.11785035473952&limit=25&) 
- [Triplex for sale Baltimore](https://www.offermarket.us/listings?mapBounds=-75.8488510207559,-77.43543025745002,39.570687094139316,38.757168193891005&limit=25&)
- [Triplex for sale Chicago](https://www.offermarket.us/listings?mapBounds=-84.89460416711968,-90.03891707982146,43.17303515200314,40.641634360630604&limit=25&)
- [Triplex for sale Dallas](https://www.offermarket.us/listings?mapBounds=-95.68653569291733,-97.75209140955468,33.46315726216436,32.316118690721765&limit=25&)
- [Triplex for sale Houston](https://www.offermarket.us/listings?mapBounds=-93.91464281574905,-96.50067023028761,30.65238938963384,29.17003375037409&limit=25&)
- [Triplex for sale Jacksonville](https://www.offermarket.us/listings?mapBounds=-81.2826098208865,-81.96710387485629,30.503778146080137,30.11297154748769&limit=25&)
- [Triplex for sale Indianapolis](https://www.offermarket.us/listings?mapBounds=-85.33205737530449,-86.68658628112121,40.08354932166097,39.39472505491193&limit=25&)
- [Triplex for sale Louisville](https://www.offermarket.us/listings?mapBounds=-85.34080332888787,-86.09392147956707,38.459571101237145,38.06851129624968&limit=25&)
- [Triplex for sale Miami](https://www.offermarket.us/listings?mapBounds=-71.84735483982419,-89.89574862110703,32.191922444867714,21.56868141704156&limit=25&)
- [Triplex for sale Orlando](https://www.offermarket.us/listings?mapBounds=-78.99215627721328,-83.47945249844418,29.868958496962662,27.262968898300713&limit=25&)
- [Triplex for sale Philadelphia](https://www.offermarket.us/listings?mapBounds=-74.88055442725121,-75.42655039062147,40.084275545623626,39.80744927444306&limit=25&)
- [Triplex for sale Tampa](https://www.offermarket.us/listings?mapBounds=-81.15187211428355,-83.31430846966136,28.61908630053638,27.356284934356097&limit=25&)

 

Good deals go fast. Access exclusive and off market listings for triplexes in your target markets, **[subscribe to deal flow](https://www.offermarket.us/survey/subscribe/deal-flow)**.

 

## Triplexes for sale by state

 

Browse triplexes for sale among the states that are most highly sought after by rental investors on our platform:

 

- [Triplex for sale Florida](https://www.offermarket.us/listings?mapBounds=-75.87929337439346,-89.55847178506401,32.110280540539975,24.14217876341806&limit=25&) 
- [Triplex for sale Georgia](https://www.offermarket.us/listings?mapBounds=-76.52331079686999,-87.362862515912,35.75202777457133,29.727365747112927&limit=25&)
- [Triplex for sale Illinois](https://www.offermarket.us/listings?mapBounds=-83.10100672940663,-93.934924156,42.592544828438065,37.09653439565135&limit=25&)
- [Triplex for sale Indiana](https://www.offermarket.us/listings?mapBounds=-80.44386398356745,-89.96095596705715,42.099642334192964,37.25903516796561&limit=25&)
- [Triplex for sale Maryland](https://www.offermarket.us/listings?mapBounds=-74.83715941613266,-78.9251957425838,40.049429872736965,37.94861384084031&limit=25&)
- [Triplex for sale Pennsylvania](https://www.offermarket.us/listings?mapBounds=-72.41835347722966,-81.13821620620256,42.90843819381254,38.5407141464853&limit=25&)
- [Triplex for sale Texas](https://www.offermarket.us/listings?mapBounds=-88.50207054969286,-109.10340238476155,37.0570882448183,25.444248314122035&limit=25&)

 

## Triplex sales

 

Triplex sales data can be obtained on major listing portals such as Zillow and Redfin, or by subscribing to a premium real estate data provider such as [PropStream](https://www.propstream.com/).

 

## Cost to build a triplex

 

The cost to build a triplex depends on geographic market, local zoning, lot size and floor plan. Depending on your location and floor plan, cost effective ground up construction would be anywhere from $120 on the low end to $250 per sq ft on the high end. The nation's largest homebuilders are able to build at $120 per sq foot.

 

How much does it cost to build a triplex? It depends!

 

## Triplex vs Duplex 

 

At the right price and in the right market, investors who want to buy triplexes generally also want to buy duplexes. Rental property investors typically prefer triplexes over duplexes because there are more units, higher gross rents, and centralized maintenance and management -- one structure, one location. Controlling for market, location and condition, triplexes cost more than duplexes. Investors who can afford the higher cost to purchase and rehab a triplex will often prefer to acquire a triplex instead of a duplex.

 

Don't feel bad for duplexes! Duplexes make great investments as well. Duplexes may be preferred by investors who are concerned about managing conflicts among tenants. Two households instead of three households means less interactions between tenants and less risk of issues small and large. You can always hire a property management firm which can save you time, stress and even money -- as long as you select the right property manager.

 

## Is a triplex a good investment?

 

Many rental property investors would agree that a triplex is a good investment.

 

## What is a good cap rate for a triplex?

 

A good cap rate for a triplex depends on the current interest rate environment and the expected rent and price appreciation in the local market. Cap rate is calculated by dividing [net operating income](https://www.offermarket.us/real-estate-glossary/noi-net-operating-income) by current fair market value. As interest rates rise, investors demand a higher cap rate [since risk free assets](https://www.chathamfinancial.com/technology/us-market-rates) such as the 5 year US Treasury bond may be appealing investment alternatives. In other words, it's hard to justify acquiring a property at a 4% cap rate when you can buy a 5 Year US Treasury at 4.3%. 

 

Taking this one step further, the cap rate should ideally be higher than the interest rate on the debt used to purchase the property. So, for example, if the current interest rate is 8%, then the cap rate should be at least 8%. 

 

Therefore, a good cap rate for a triplex should represent a significant spread over the current interest rate and the risk free rate. So, if the current interest rate is 8% and the risk free rate is 4.3%, then a cap rate of 10% would be quite attractive. In a low interest rate environment where the interest rate is 3% and the risk free rate is 1.5%, investors may find a cap rate of 5% to be attractive.

 

What we haven't yet mentioned is that many skilled investors buy properties in highly desirable, competitive markets at low cap rates with the strategy of increasing rents and operating more efficiently.

 

## What are the benefits of owning a triplex?

 

Owning a triplex certainly comes with benefits. As long as the local market is healthy, triplexes make great long term investments. They're almost as easy to manage as a single family rental property but they generate materially higher rents. Triplexes are also rare in many markets so investor demand implies healthy liquidity and pricing when it's time to sell.

 

## What is a triplex apartment?

 

A triplex apartment is an apartment unit in a 3-unit apartment building, otherwise known as a triplex. if you live in a triplex apartment, you rent one of the 3 units at the property.

 

## Triplex house

 

A triplex is a residential income producing property, it is not typically referred to as a house, except in cases where the owner lives in the property. Many people consider triplexes to be an apartment building because they are considered a small multifamily asset.

 

## Triplex plans

 

- [Narrow lot triplex plans](https://www.houseplans.pro/plans/category/96) 
- [Single story triplex floor plans](https://www.houseplans.pro/plans/type/12)

 

## Related to triplexes

 

- [SFR](https://www.offermarket.us/real-estate-glossary/sfr)
- [Duplex](https://www.offermarket.us/real-estate-glossary/duplex)
- [Quadplex](https://www.offermarket.us/real-estate-glossary/quadplex)
- [Fourplex](https://www.offermarket.us/real-estate-glossary/fourplex)
- [House Hacking](https://www.offermarket.us/real-estate-glossary/house-hacking)

A triplex is a 3-unit house. Learn why triplexes are attractive to rental property investors. Find your next triplex for sale at OfferMarket.

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Triplex | OfferMarket Real Estate Glossary

Triplex

<div style="width:100%;"><iframe width="100%" height="315" src="https://www.youtube.com/embed/zgEXZ7qNmyM" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe></div>

 
 

**LTARV** means Loan To After Repair Value. This acronym is commonly used by private lenders and commercial lenders who finance fix and flip and rental property investors.

 

## What does ARLTV mean?

 

**ARLTV** stands for After Repair Loan To Value, and it is the same exact concept as LTARV. Some private lenders use ARLTV, others use LTARV in their communications.

 

## What is the maximum LTARV?

 

Private lenders generally limit the loan to after repair value to 75%. That means a property that appraises for an after repair value of $100,000 based on scope of work, would qualify for a loan of $75,000.

 

**Let's drive the concept home with an example:** you want to buy a distressed property for $100,000. You expect to invest another $100,000 in repairs. Given your planned [scope of work](https://www.offermarket.us/frequently-asked-questions/what-is-the-draw-request-process-for-offermarket-capital-construction-loans) for the rehab, you expect the property to appraise for $300,000 based on recent [comps](https://www.offermarket.us/real-estate-glossary/comps).

 

Before providing funding, your private lender orders an appraisal. The appraiser inspects the property, reviews your scope of work, and provides an opinion of After Repair Value in the appraisal report of $295,000. Close to your estimate!

 

So you have:

 

- Purchase Price: $100,000
- Rehab Budget: $100,000
- ARV: $295,000

 

Now, here are the terms you can get from your private lender:

 

- **Maximum Loan Amount:** $221,250 ($295,000 * 75%)
- **Up to 90% of Purchase Price:** $90,000
- **Up to 100% of Rehab Budget:** $100,000
- **Total loan:** $190,000
- **Term:** up to 18 months
- **Interest Rate:** see [Bridge Loan Index](https://www.offermarket.us/blog/bridge-loan-interest-rate-index)
- **Origination Fees "points":** see [Bridge Loan Index](https://www.offermarket.us/blog/bridge-loan-interest-rate-index)

 

## Bridge Loan Exit Strategy

 

After your project is complete you can either sell the property ("flip"), or you can rent and refinance the property ("[BRRR](https://www.offermarket.us/blog/brrr-loans-bridge-loan-to-dscr-rental-loan-growth-strategy)").

 

Learn more about [ARV](https://www.offermarket.us/real-estate-glossary/arv-after-repair-value) in our real estate glossary.

 

## OfferMarket Fix & Flip Bridge Loans

 

- [Get Bridge Loan and DSCR Loan quotes in 2 minutes or less](https://www.offermarket.us/loans)
- [Private Lender for Bridge Loans and DSCR Loans](https://www.offermarket.us/capital)

LTARV means Loan To After Repair Value. This acronym is commonly used by private lenders and commercial lenders who finance fix and flip and rental property investors.

large_LTARV OfferMarket Real Estate Glossary.png

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LTARV OfferMarket Real Estate Glossary.png

LTARV and ARLTV - OfferMarket Real Estate Glossary

What does LTARV and ARLTV mean?

### What is a home warranty?

 

A home warranty is either a legal warranty or service contract that covers a homeowner in the event repair or replacement is required for one or more components of the house. Home warranties typically cover appliances, HVAC, plumbing and can vary based on provider and customer preference.

 

### How much does a home warranty cost?

 

Home warranties typically cost $300 to $600 per year and vary based on location, home type, home size, and coverage options.

 

### Do I need a home warranty?

 

No, you do not need a home warranty. A home warranty is an optional protection that you can shop for to receive competitive quotes. A home warranty is advisable if you have any concerns regarding the condition of the home's major systems and appliances or your ability to afford proper repair or replacement in the event they unexpectedly fail.

 

### Home Warranty vs Homeowners Insurance

 

Homeowners insurance provides financial coverage for structural damage and loss of personal property from emergencies such as natural disaster, fire and theft. Unlike a home warranty, homeowners insurance will not cover the home's systems and appliances when they fail due to construction error or age.

A home warranty is either a legal warranty or service contract that covers a homeowner in the event repair or replacement is required for one or more components of the house.