[Calc Review] SFR near College in NJ

[Patrick Flanagan]

Hey everyone,

Curious if I could get some feedback on this deal. This would be my first investment. Is this monthly cashflow worth it for you?

The property is in good shape. No major repairs needed. Maybe some painting and new washer/dryer. 

The home would rent to college students as it is near a university.

Here is the listing 

https://www.realtor.com/realestateandhomes-detail/42-Ardsley-Ave_Ewing_NJ_08638_M60239-29222

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*This link comes directly from our calculators, based on information input by the member who posted.

[Heath Ryans]

@Patrick Flanagan

In Closing costs you will still have some title search,possible  apprasial, inspection, and maybe other fees. Id give it atleast 1% to be safe. Thats assuming the seller will pay the rest. 

lender fees, i dont know. I would make sure that applies to you and not just the last guy the agent did business with. Its possible. But i would make sure.

As @Sam Shueh said, be aware that the typical school year runs August-May. That leaves you 3 months worth of unknows if your renting to students specifically.