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Updated almost 8 years ago,
Can someone help me evaluate this deal?
Hey everyone I'm trying to evaluate my first deal. Here is the information on it. All info was pulled from county records.
Staten Island, New York. SINGLE FAMILY HOME. 3 Bedroom 2 Bathroom 1 full 1 half
Lot Sqft 2,500. Finished Sqft. 1,152. Finished Basement. Lot is 25 by 100.
Estimated market value is $370,000 from year 16/17. Future market value is $414,00 year 17/18. House is paid off theres 100% equity.
property tax-$4720
Built in 1965.
Estimated Rehab Cost- $20,000.
-Im not sure if this is a good deal or what the best approach is. I cannot afford to pay the monthly payment to owner occupy, nor can i afford the 20% down payment as an investment property. Is there anything I could offer the seller or is just a bad deal for me? Are there any tools i could use to approach this situation?
If I'm missing anything please let me know. Thanks