Bigger Pockets 50% rule...

[Jorge Hernandez]

I use the 50% rule to quickly analyze a property

Property

Irvington, NJ

265,000 with property tax being just under $11,000

2 bed/ 1 bath over 2 bed/ 1 bath

rent according to zillow is 1,400 for an updated , nice apartment

according to the the online mortgage calculator the payment would be just under $2,500

With the 50% rule you have only $1,400 to pay $2,500 making this a bad deal. Maybe I need to do a different because 99% of the properties are over the rent roll income by 30 - 40%