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Updated over 8 years ago,
Is this a good deal? Multifamily in upstate NY
Hey guys,
I'm analyzing a property in Beacon, NY (about 1.5 hours outside NYC on the Hudson River) and not sure if it's a good deal. It's for sale by owner, no realtors involved. I'm a first time homebuyer and plan to do FHA. I'm a little weary about doing this without a realtor, can anyone comment on that?
Price is a bit steep ($425k) but looks like it has cash flow potential.
"Brick Three Family. 1890. Three units separately metered. Major renovations including wood floors, granite counters, etc. No violations. Taxes $6,300 in 2015. Rental income $1,450 + $1,700 + $1,100. Strong ROI. Master unit vacant. Off street parking. Big yard. Nice neighbors."
Any thoughts or advice is appreciated, thanks!