Updated almost 6 years ago on . Most recent reply
One bed studio Bronx
Investment Info:
Single-family residence buy & hold investment in Bronx.
Purchase price: $175,000
Cash invested: $175,000
Purchase price 165 000 USD
Costs 10 000 USD
Total 175 000 (all paid in cash, owned free and clear)
Current valuation 195 000 USD
Rental : 1650 USD // (900 USD net after all costs/taxes paid)
ROI 6,2% Net
What made you interested in investing in this type of deal?
- Steady tenancy (state of NY)
- decent return
- safety of the investment
- 8 miles from Central Park Manhattan
- Catalyst for capital gain: The build of a high speed train station connecting to Manhattan in 15 Min.
- Area becoming nicer and nicer
How did you finance this deal?
All cash. Will be looking to refinance the existing apartment owned free and clear, to buy 2 more.