Help me analyse this off market deal ( Orange, NJ )

[Noyessie Hubert]

Hi All,

I have this off-market deal that I found recently. The owner is asking 600k and does not want to pay buyer dealer fees (initially).  It is a 3-family property with a 50% finished basement and a car garage. The Redfin estimate of the property is 620+k and Zillow gives between 500k-630k.

Initially, the owner was not open for buyer agent fees and of course, my agent was not okay to work on that. I was okay to walk away but he contacted my agent and agreed to pay his fees. So I'm concerned if the deal is really worth it. I need an independent person who can help me analyze the deal. It is my first time.

Thanks.

[Nicholas L.]

@Noyessie Hubert

the redfin and zillow estimates are completely and totally irrelevant.

need more info.  are you going to live in 1 unit and rent 2, or rent all 3?  what are the rents?  what are the expenses?  is it occupied?  what deferred maintenance does it have?  do you have lending lined up?  how did you "find" it?