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Updated almost 11 years ago,
Possible good find,newbie needs help to see if its investor good
I found a home in connecticut. Its a 3 family built in 1927. It's been on the market for a while and has changed hands as far as agents representing the seller goes. They're asking for 180k. The rent is 1k per floor. But here's the kicker. The mill rate is 74.29, which is 13k/yr. with this in mind my estimated mortgage would be like 2.5k/month.
Other than a water bill, what other expenses should i know about, as I've never owned a home before. Keep in mind that the average income of this town is 15-20k so section looks like a strong possibility