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Updated over 7 years ago,
2-family in NY, does this sound like a good deal ?
Hey guys, so I found a 2-family home in southern NY about an hour and a half from NYC. The home is listed for 375,000 but I'm sure I can offer at least 25,000 less and succeed.. I got most of the details needed to evaluate the property. One 2 br apt rents for $1700/month and the other for $1500/month making the monthly gross $3,200. Taxes are $11,000 a year, all utilities are separated to each apartment and tenant pays all. I'm in a position to be able to put 20% down. House is in good shape no major repairs needed, new boiler, etc.. good neighborhood also. Anyone have any advice or input on this deal? Anything would be appreciated. It would be my first deal, so I don't wanna jump in without doing my research. Thank you..