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Updated over 3 years ago on . Most recent reply

User Stats

21
Posts
5
Votes
Zulu Black
  • New to Real Estate
  • New York, NY
5
Votes |
21
Posts

First Rental (advice)

Zulu Black
  • New to Real Estate
  • New York, NY
Posted

Hey guys,

I recently put down an offer for my first rental in New York. I would like to get some input on what you guys think of it. 

Selling Price: $310,000

Down 20%: $62,000

Closing Cost: est $10,000

30 year Loan at (est 4.5%)

Details: SFH

5bd/2ba (on CO its 4bd/1ba, they converted the attic as a bedroom and added a bathroom in the basement)

Total Rent: $3200/mo

Taxes: $7000/year

Insurance: est $1500/year

No rehab needed

No prop management. 

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