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Updated about 10 years ago on . Most recent reply

User Stats

17
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2
Votes
Steven Yang
  • Real Estate Investor
  • Harrison, NJ
2
Votes |
17
Posts

New Jersey Piscataway Property around Rutgers

Steven Yang
  • Real Estate Investor
  • Harrison, NJ
Posted

I recently came across the following deal and thought I would share with everyone here and get some feedbacks on it.

Single Family with 3 bedroom - of which one is master with its own bathroom. other than that the house has another 1.5 bathroom, 1 living room, 1 kitchen, no garage, but a private driveway. 

Financial is as follow:

listing price: $310,000

property tax: $ 6,500

potential rental: $2,200/month

With 20% down payment, the cash flow would be about $455/month, or a ROI of 0.734% per month or 8.8% annually.

obviously, the 50% rule does not work here, but i found that to be the case with most properties around new Jersey. This particular property is in a very nice, safe neighborhood and very close to Rutgers. 

Any feedback or critic are welcome.

Many thanks,

Steven

Most Popular Reply

User Stats

60
Posts
20
Votes
Kurt Naletko
  • Clifton, NJ
20
Votes |
60
Posts
Kurt Naletko
  • Clifton, NJ
Replied

The house will almost certainly need above average repair between tenants. If you are looking to capitalize on the "Rutgers market" I would look across the river, while the properties are a bit more expensive, the rents are SIGNIFICANTLY higher, even off Cook/Douglas Campus. The vast majority of student would not consider renting in Piscataway.

This comes from my experience as a recent Rutgers Alumni

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