Updated almost 20 years ago on . Most recent reply
What do you think of this for a first time investor?
List price $264,900.
Haven't tried to bargain at all yet, not sure how flexible he is on price.
No money down.
At 6% the calc I used says $1588 for the monthly payment.
3/2/1 bedrooms
2,777 sq/ft
Next town over from Hartford, CT (capitol city, a lot of high paying jobs there and this town being quiet but close to the city gets a lot of families that need to live close to work)
Owner (he's also the agent) says its fully occupied, tenants are all long term. Rents are 2br $867 month to month, 3br $850 leased, $650 month to month.
Taxes are $3100/yr.
Other info from listing on site: New Roof, Updated 3 Family,Long Term Tenants, 21K Profit Annually, Fireplaces. Agent/Owner
Even with insurance, maint., and other expenses it seems like a good deal to me. Oh, also has a 1 car garage, might be able to rent that out for a little bit of extra a month to someone that needs storage or space for a sports car.