Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago on .
Is this 2 family home a good purchase.
Hello,
I am currently in attorney review for my first house, it is a 2 family home in NJ. This house is move in ready any construction would be additions/renovation done to enhance house
Price
$205,000
$7500 seller concession
Total loan $212,500
Taxes $5500
After all other fees added, payment would be $1830
2 family house 3 br 2 bath
Unfinished basement
First floor
1 br, 1 bath
Tenant occupied paying $1200 a month
2nd floor
2 br, 1 bath, walk up attic
I will be living in this unit
Downfall: bathroom is connected to one bedroom (like a master bathroom) I would need to add a bathroom in the attic directly above the bathroom connected to the bedroom.
Private backyard, no driveway
Close to a lot of businesses and major highways
Owner pays heat and hot water
Tenant pays the rest