Asking price 210k which I will offer a lower price .. 2 family I can get around 1100 each unit. mortgage will be about 750.00 a mo @ 20% of 200k Tax is cheap compared to other parts of NJ 400.00 mo. Insurance say 125.00 mo
This is based on everything else being okay. Obviously I am going to look at it and check out all appliances, roof, separate utilities and all that. Which I am going to make tenants pay for all utilities.
You need to estimate repairs/cap. reserves, management costs, and vacancies. I estimate your NOI at about $13,500 per year. On a purchase of $210,000 that makes about a 6.4 cap. It will go up with a lower purchase but expect some fix-up costs.
It looks like your cost of funds are about 4% so I would want a 7 cap or higher.