price drop on a no work 3 family

[Shequann Burrwell]

I have a buy and hold property in Poughkeepsie NY. Owner needs to sell due to divorce and wanting to move out of state for a job offer. Under contract for $181,900 asking $186,000. price has been dropped $20000 to $169000 asking $174,000 thats including assignment fee. It's a 3 family house 3 floors full basement with 2 car garage. Need no major work at all. Apt are as follows 1st floor is a 2 bed room already rented for $1100 a month with its own porch. 2nd floor is a 3 bedroom with hardwood floors. 3rd floor is is a 1 bed room with carpet. updated appliances in each. first and second floor have own private porches. In a great part of the city right by the post office and around the corner from city hall and the police station. taxes are around $4300 a year. new furnace and hot water heater last year and roof 5 years ago. went and saw the house today and it really is in excellent shape and ready for a new owner for buy and hold.

The property doesn't need any work beside whatever changes the new owner would make. the 2 bedroom pulls in $1100 a month. the owner lived in the 3 bedroom but is currently moving out. i estimate you can get $1400-$1500 on the 3 bedroom and another $800-$900 on the one bedroom. i was also thinking you can rent each room separately to college students for $700 a room. marist college and the culinary are less than a mile away from the house, with vassar college and dutchess community college with in the city as well. there is a lot of room for profit in this home either way you go with it. safe neighborhood and great neighbors close to entertainment and the local post office as well as the hudson walkway and river. both hospital are a few minutes away along with the malls and good selection of gyms and restaurants and churches.