Triplex
A single building with three separate units. Same idea as a duplex, one more unit. Still qualifies for residential financing.
Every term like this one lights up in the step you're on.
Free to set up. No credit card.Part 1 of 4
Why a seller cares
Three units still finance as residential, and a buyer can live in one with an FHA loan. Like every small multi-family, it sells on rents, leases and expenses more than finishes.
Part 2 of 4
A simple example
Your triplex rents for $1,000, $1,050 and $1,100 a month. An FHA buyer plans to live in the smallest unit and asks for all three leases.
| What the buyer wants | What you provide |
|---|---|
| The leases and rent roll | Copies, with lease end dates |
| Expenses | Taxes, insurance, utilities you pay, repairs |
| Which unit is vacant or can be | A date, if they plan to live there |
A triplex is a house-sized building with a business inside it.
Part 3 of 4
What people get wrong
That an owner-occupant buyer cannot buy a triplex. FHA and conventional loans both allow up to four units when the buyer lives in one.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
One piece of your sale. Here is where all the pieces live.
In your room, this word explains itself where it appears.
Keighbor keeps your whole home sale in one place and defines every term like this one right where you meet it, in the step you're on. Free to set up, with or without an agent.