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Updated almost 7 years ago,
3-family in Clifton
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?