Trying to determine costs

[Joe P.]

Hi all - thinking of putting in an offer on a property in South Jersey. I am having trouble hearing back from the seller on some of the costs of the property so I'm trying to get a sense of what costs I might encounter. I so very much want to put an offer on the property and I've estimated some costs, but would like to get some calibration from other landlords/homeowners.

The owner pays:

Heating for 2 units (a 2 BR/3 BR) - I estimate this to be $1200 per year ($600 for each unit)

Common electric - Assuming $600 per year ($50 per month)

Water - Assuming $1800 per year ($150 per month for both units)

Sewer-  Assuming a flat charge, but unsure, assuming $600 per year for the property

Garbage - Not sure if there is a garbage cost in NJ, but assuming $500 per year for the property

I have other expenses already lined up, e.g. PITI, CAPEX, Vacancy, Maintenance, etc. Just looking to align some of the "township" costs based upon what other New Jersey residents/landlords may be paying.

Thanks in advance!

[Vincent Priore]

@Joe P.

Would agree with others that most of those costs should be available via the landlord.  However, if they are slow in getting those numbers and you want to do some estimating, I think your water number is high and your heating number is low.

I pay water on most of my rentals and have several duplexes.  Water is typically $600 - $800 annually.

Good luck