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Updated almost 8 years ago,
First timer going for a duplex
Hello all!
Would love to get your thoughts on this property that I'm very close to pulling the trigger on. I am new and have never owned anything so this feels pretty nerve wrecking so far.
New Potential Property
Duplex
Purchase Price: 175K
Rents per month: $2500Total
RE Taxes : $6500 (taxes may look quite high to some because it's in NJ)
Neighborhood - not the best town but it's not Camden either. As a girl I felt the immediate is relatively nice, just not one that I personally would want to raise a family in. Rental units appear to be in pretty good demand.
No improvements needed at this point and the property already has two tenants. (One of the leases is ending soon)
i will be putting 20% down and my monthly mortgage/Taxes/insurance payment should be around $1400 or less.
For the first couple years I will be owner occupying one unit but eventually will rent both out.
What do you think?
Thank you all!