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A multi-family house (87 year old), $800k, 4 units, total are renting for $5185/mon:
(1) 1BR ----$1100
(2) 2BR ----$1200, $1340
(1) 3BR ----$1545
The tax of 2006 is $14122. If down pay is 20% with 6.22% morgage, the annual expense is $61258. The rent annual income is $62220.
It\'s located in the area walking to princeton downtown NJ, very close to my home.
I have another choice: same asking price, 80 year old, 4 1BR units, total are renting for $5155. This house is located in the heart of princeton downtown.
I have some extra money and want to diverse my investment. I am reading this forum from the beginning of this year. I learned a lot. But never have the courage to test water. Could you please give me some advise?
Thank you in advance. |
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