Journal Square Jersey City NJ 2 family - asking $365K, $2800 rent

[Tim Booz]

Hi All,

I have a two family property coming up for sale - available to Realtors for showings starting on Monday - but I figured I'd get the Bigger Pockets members in the Jersey City, Hudson County, and general New Jersey area a heads up before it goes out to everyone. If you're interested in seeing it please contact me directly, and we can set up to check it out in person. I can also send you some pictures. Full disclosure, I'm a licensed broker in NJ, and this place is being sold through my brokerage.

If you have a real estate agent you have a personal relationship with feel free to have them contact me on your behalf to set up for next week, when the property hits the MLS rather than working with me directly.

The property is 9 minutes from the PATH train to NYC. Top floor duplex apartment is 2.5 beds and 1.5 baths with a small covered deck and access to a shared back yard. Apartment has a washer/dryer in unit, dishwasher in the kitchen, and was completely painted in July. Tenants have very good credit and income, and are on a one year NJAR lease ending July 2016. They've expressed interest to stay long term.

Bottom floor studio has a railroad style bedroom, but has no window - so legally speaking it's a studio with a den. Apartment has it's own private entrance, and also has shared access to the landscaped back yard. Property is rented to a tenant with good credit and income on a one year NJAR lease ending July 2016.

Both tenants have agreed to pay rent by direct debit, and it is reflected in the lease. Both tenants communicate primarily via email or text, rather than phone calls.

Property Stats:

Asking Price $365,000

Taxes $6000 (estimated, waiting for final amount, last years were $5400)

water/sewer - $1200 Approximate, waiting for final confirmation from owner

insurance - $1200 Approximate, waiting for final confirmation from owner

Rental income: 

Studio: $1050 p month = $12,600

2.5 Bed: $1750 p month = $21,000

Total rent roll = $2800 per month, or $33,600 annually.

If you're interested in learning more just send me a message here, or email me. I have pictures, neighborhood reports, and  walkscore / local info report to send via email.

Thanks!