What do you think of this house?

[Chi Cheung]

I'm looking to buy and hold in the NYC/ Northern NJ area. With high house prices and high property taxes, most houses in the area cannot achieve cash positive. Here's one that I found near Newark (OK neighborhood):

Asking price $190,000 (short sale)

Income: $1000 / month x 3 units = 36,000 per year

Property tax $9000 / year (yes, 9 thousand)

Utilities: 1,500 / year

Property management: $3,600 /year

Please let me know what do you think.

Thanks.