asking price: $1 Million
7% cap rate , OK deal in NJ?
LOL not a chance.
I've never seen an expense ratio that low. Run the deal as if it were a stand-alone business with property management.
My swag is the property is worth between $500 and $650K, on an income basis. at 7% cap rate.
@Darshan Patel can you weigh in on this? What cap rate are you looking for?