New Jersey Piscataway Property around Rutgers

[Steven Yang]

I recently came across the following deal and thought I would share with everyone here and get some feedbacks on it.

Single Family with 3 bedroom - of which one is master with its own bathroom. other than that the house has another 1.5 bathroom, 1 living room, 1 kitchen, no garage, but a private driveway. 

Financial is as follow:

listing price: $310,000

property tax: $ 6,500

potential rental: $2,200/month

With 20% down payment, the cash flow would be about $455/month, or a ROI of 0.734% per month or 8.8% annually.

obviously, the 50% rule does not work here, but i found that to be the case with most properties around new Jersey. This particular property is in a very nice, safe neighborhood and very close to Rutgers. 

Any feedback or critic are welcome.

Many thanks,

Steven