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Updated over 5 years ago,

User Stats

37
Posts
5
Votes
Charles Salumn
  • Staten Island, NY
5
Votes |
37
Posts

Can someone help analyze

Charles Salumn
  • Staten Island, NY
Posted

I’m trying to start my brrrr empire.  

However I’m looking to also get into a house to live in for the time being that is closer to work.   I have never owned an income property before however I have found a multi family home in a desired area that I’d like to love in for a while. 

Duplex 2 units over 2 units.    

Asking price -165k  needs new septic (quoted at 15-22k).   And updating 

Rents(currently )-  900 for one unit and 880 for the other.   Part of the land rents to a blueberry farmer for 135 a month.    Taxes are around 5k

My question is if I plan on staying in this property for several years and then keep it as a rental when I’m ready to move on do you think it’s worth it ?    Owner is the listing agent and will not move on price.   

I also want to make a wise decision as I need somewhere to live closer to work and I want to put myself in a good area (hard to find multifamilys ) in these areas 

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