Looking to Invest in Bayonne

[Marc Weisi]

Hello fellow BPers!   I'm a real estate investor in Hudson County, NJ (as difficult as that may be right now) and am starting to look at properties in towns that I'm less familiar with in order to find cash-flowing deals. One multi-family property in particular that I found was in Bayonne. I did some analysis and it looks like it should cash-flow pretty well. Being that I'm less familiar with the area, I wanted to do a sanity check on my rental numbers to make sure I'm not way off. My assumptions are below and are based on scanning website listings and calling other landlords. This property is in pretty decent shape and I plan on updating the kitchens/bathrooms in both units to be market-competitive so assume an average quality apartment for the area. Thank you for taking the time!

2 Bedroom/ 1 Bath:  $ 1,600/month

3 Bedroom/ 1 Bath:  $ 1,750/month

[Allan Szlafrok]

@Drew Slew Don’t forget about the new ferry service to Manhattan coming to Bayonne that’s gonna be huge. Problem with Bayonne VS Jersey City is the taxes are outrageous and the rental income isn’t nearly enough to make up the difference.