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Updated over 2 years ago,

User Stats

93
Posts
31
Votes
Orkeem Davis
  • Real Estate Agent
  • Englewood, NJ
31
Votes |
93
Posts

Keep it or Sell it? 4 family in North Bergen, NJ

Orkeem Davis
  • Real Estate Agent
  • Englewood, NJ
Posted

Should I keep it or sell it?? I own a 4 family - 3 family apt building and 1 single-family home on the same block and lot and I purchased for $1,100,000 and its appraising for $1,325,000. The property is non-owner-occupied, and it currently brings in 9k monthly rent roll. One tenant is moving soon and after that unit is renovated, I will bring in close to 11k monthly rent roll. PITI approx. $6200. Utilities approx. $800 monthly. I could have approx. $250,000 - $300,000 in equity at this time if I am able to sell for 1.3 million - 1.4 million. Should I keep it or sell?

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