Updated over 6 years ago on .
House hacking deal JC
What do you guys think about this house hacking deal. Its a duplex 4 bedroom 2 bath located in Jersey City, asking price 480,000. The basement is partially finished. The first floor has 2 bedroom and 1 bath and it rents for 1,400. The second floor has 2 bedroom 1 bath and rents for 1,650. I can possibly renovate the basement and generate some income from that. The annual property tax is 4,349. My monthly mortgage would be 2,136. Im also using the Va loan so im putting zero down. My estimated closing cost is between 6,000-10,000. I currently rent a 1 bedroom In Brooklyn for 1,600 plus utilities. So my expense would be going down. I would have to come out of pocket 1,218 with this house hack.