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Updated about 7 years ago on . Most recent reply

User Stats

122
Posts
33
Votes
Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
33
Votes |
122
Posts

3-family in Clifton

Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
Posted

Here are the numbers. Please let me know if you think its worth getting into. I cant decide. 

Price: 365K. I have 25% for the down. My partner is getting a conventional loan for the rest at 4.5%

3 units 

3 Br unit -                      rent $2000

1 br units(2 nos)           rent $1200 each 

2 car garage and 6 car parks -could fetch an additional 500 in rent. 

Roof needs work. Down the line I'm thinking it may take 25-30K to paint, fix windows etc. 

water and sewage expenses -2500 per year. Tenants pay utilities.  

Should I go for it or let it pass? What do you think? 

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