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Updated about 9 years ago on . Most recent reply

User Stats

766
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652
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Calvin Thomas
  • Developer
  • New York City, NY
652
Votes |
766
Posts

Valuing a multifamily home in Rockland County, New York

Calvin Thomas
  • Developer
  • New York City, NY
Posted

Looking to expand my real estate buys and entering Rockland County, NY.  There is a 5 family building for sale.  Actually, it's a four family building along with a detached unit on the same property.  It's been listed for about 150 days.  It's seems about 100k overpriced, however, the rents are pretty nice.  However, the school/property taxes are significant.  I did some searching on valuations on Prop. shark and other sites, but nothing gave me a good price comparison.  

Any ideas on how to proceed?

Most Popular Reply

User Stats

537
Posts
56
Votes
Chaim F.
  • Property Manager
  • Brooklyn, NY
56
Votes |
537
Posts
Chaim F.
  • Property Manager
  • Brooklyn, NY
Replied

@Calvin Thomas

My experience was that if a property is on the market for that long and he's not willing to lower the price, then he's not really interested in selling. Just my 2 cents.

Good luck!

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