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What’s your opinion on this duplex?
I don’t think I will make an offer on this property unless I found someone to partner with but for the sake of learning, let me know what you would do. The property is 1457 Esterbrook ave in Rahway NJ. It’s a duplex attached to another duplex so their may be potential to buy the other side in the future. It’s in downtown Rahway, not too great a neighborhood but a 3 minute walk to the train station. Without seeing the condition of the inside, I ran the numbers guessing 20k in repairs, 8k of closing costs (to be wrapped into loan). Assumed 5% vacancy and 10% for maintenance/Capex. Putting down 5% for the down payment the property looks like it would cash flow if I borrowed 145000 or less. That is assuming the whole property rents for 2100.