Help me analyze this deal

[Anthony Henriquez]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Bathroom Information

• # of Baths (Full): 4

Room Information

• # of Rooms: 15
• Basement: Finished Basement, Full Basement

Interior Features

• 1st Floor: RENTED $1500

Laundry Information

• Basement

Heating & Cooling

• Baseboard Heat, Gas, Hot Water, Other (See Remarks), Other Fuel Source (See Remarks)

Parking / Garage, Exterior Features, Utilities, Taxes / Assessments

Parking Information

• Detached, Two Car Parking

Building Information

• Year Built: 1940's

Utility Information

• Utilities: Separate Electricity, Separate Gas, Separate Heat, Separate Water
• Sewer: Municipal

[Joe P.]

Another thing -- if you expect to walk in with a $0.00 repair budget, you're going to get screwed (and be very angry), especially with lower CAPEX/maintenance budgets.

What's going to kill this deal is nearly $1000 a month in taxes -- that's absurd, but not surprising in Jersey. My Gloucester City duplex is at $4200 a year.

This is a walk-away deal if I've ever seen it; even if you make $70 a month cash flow, why would you do it? If you're buying this for cash flow you can take your $70,000 and dump it into a high-yield interest savings account with no headaches; if you can make 2% ($1400 a year) you're doing better than this deal.

I think everyone above, while trying to be helpful, are not reading you the riot act. This is in no way a good deal for you. You will be dumping 70,000 into a property that will never net you anything.