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$370000 3-FAMILY PROPERTY WITH NICE RENT ROLL (NEWARK, NJ) (map)
THIS PROPERTY IS A 3 FAMILY PROPERTY. IT CONTAINS ONE 3BR/1BATH APT AND TWO 3 1/2BR/1BATH APTS. RENT ROLL INCLUDES A VACANT APT (TENANT MOVED 04/02/08) HOPE TO HAVE RENTED BY 05/01/08 AT $1100 /$1100 SECTION 8 (TENANT PAYS $210) /$800 WORKING TOTALING $3000. ALL APTS ARE ON YEARLY LEASES EXPIRING DIFFERENT TIMES OF THE YEAR. THIS PROPERTY HAS SEPERATE UTILITIES. LANDLORD ONLY PAYS WATER. THIS PROPERTY HAS NEWER ROOF AND WINDOWS. LITTLE TO NO MAINTENANCE EVER. THIS PROPERTY IS LOCATED AT 133 ELIZABETH AVENUE NEWARK, NJ 07108. IF YOU ARE INTERESTED, PLEASE CALL 917.862.0430 OR EMAIL CDIFF64@YAHOO.COM.
POSSIBLE SCENARIO:
370K PURCHASE PRICE MINUS 10% DOWN OF $37K. YOU FINANCE $333K AT 8% - 30 YEAR FIXED WILL COST $2443.44 + TAXES (4103 / 12 MONTHS) $341.92 + INSURANCE ($1600 / 12 MONTHS) $133.33 + WATER ONLY $75 TOTALS $2993.69. A RENT ROLL OF $3000 WILL ALLOW THIS PROPERTY TO BREAKEVEN AND BUILD EQUITY AT NO COST TO YOU.
