Condo Rental in NJ - studio

[Andy P.]

Hello,

Please let me me know what you think of this deal.  Go easy, first post.

For the sake of discussion its a condo but in reality it is a coop.  Coop board great and really behaves like a condo from investment perspective.  Location Northern NJ, easy commute to NYC, good schools, small studio.

Purchase price: 75k, has to be cash do to lack of financing on coop, fantastic condition

Rent: 950-1000, very strong demand

Maintenance (includes tax h/w): 305

What say you oh wise ones?