Two Family Sami detached townhouse
Hi can you please telll me if this is a good deal. This townhouse is located in somewhat of a non so popular area, but its walking distance from the beach as well as MTA. The are is picking up again, after the storm Sandy a lot of developers bought out the houses and build condo's. So the area has gotten rebuild, the current selling price for this property is 389,900. The reason its cheap is becuase its in lease desired location, but I could afford and the cash flow potantially is great. so here is all of the spec's of the property( info is based on what the agent had provided). This duplex is 9years old, i dont need to do anything in it. They two apartments are currentely occupied.
BLOCK: 15822
LOT: 33
BUILDING Class: C0
BUILDING SIZE: 24’ x 37’
TOTAL SQ FT: 2,636’ (approx.)
FLOORS: 3
UNIT 1: 2 BDR DUPLEX
UNIT 2: 3 BDR, 2 BATH DUPLEX
YEAR BUILT: 2006
LOT: 24’ X 60’
ZONING: R5
RE TAX 15/16 $3,028
INSURANCE: $1,200
W/S: $480
GAI: $44,400
ANNUAL EXPENCES: $4,700
NAI: $39,700
CAP RATE: 10%
Would it be a reasonable question to ask the owner of this property, get all of their financials.