I'm looking at a property in Passaic NJ, I was wondering if anyone has knowledge regarding the area and what the price is.
the specific deal I'm looking at, is a 2 family home and then next door there's a mixed use property.
the first floor is 5,000 SF bar/club (vacant)
2nd floor is a 3 bedroom apartment.
it's off Passaic street and 4th street.
Sorry I didn't finish my question.
does anyone know the Passaic NJ market?
if yes can you help me figure out if this deal makes sence.
Passaic county or Passaic city? Either way prices may seem reasonable but the taxes are crazy.. I look into Essex and Bergen instead
you see I don't know the neighborhood so well.
so I'm not sure but the asking price is 370k
and the taxes are 15k
I'm not sure if its county or city.
Honestly I put it in to my GPS and I took a walk through :)
Bernard you're not giving us enough info. Have a realtor pull some comps for you and compare apples to apples. Also do a drive by of the comps so that you can get a real feel for the neighborhoods and other houses.
And if you're going to invest in a market then take an experienced realtor to lunch and pick their brain as to what the Passaic market is like. But to invest and not even know if you're in Passaic county or city? You've got some homework to do sir.
Hey Bernard, I can probably offer some guidance.
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