Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

22
Posts
10
Votes
Bronson Simmons
  • Investor
  • Summerville, SC
10
Votes |
22
Posts

New Jersey Deal analysis

Bronson Simmons
  • Investor
  • Summerville, SC
Posted

I might relocate to New Jersey, so I would appreciate your help if you know the NJ/NY market:

 65 N 1st St, Paterson, NJ 07522 - Duplex - 3BR, 1Ba (each) - ask price 325k

rentometers' ave. rent is 1832/side= $3664

For a FHA loan with 4% down the payment is $2369 (includes insurance, mortgage insurance, and prop. tax) 

after setting aside 20% for repairs & Cap ex ($732), flood insurance ($80) and assuming self management, that leaves 299/mo. cash flow. Metrics: 18.4% COC return, 7.9% Cap.

Have I forgotten anything? I've heard the NY/NJ market is hard, so this seems too good to be true!

Loading replies...