taterhill Posted July 10, 2006 Posted July 10, 2006 I have a 2 unit in South Buffalo(nice dead end street on the border of West Seneca) and I am looking to sell it....anyone interested? Will be listed for $70k and some change...2 units are rented...$425 upstairs $450 downstairs....I figure I would ask here before I throw it to a realtor....PM if interested...
Pine Barrens Mafia Posted July 10, 2006 Posted July 10, 2006 I have a 2 unit in South Buffalo(nice dead end street on the border of West Seneca) and I am looking to sell it....anyone interested? Will be listed for $70k and some change...2 units are rented...$425 upstairs $450 downstairs....I figure I would ask here before I throw it to a realtor....PM if interested... 720733[/snapback] Holy Christ that's cheap. I'm tempted to be an absentee for that kind of price.
Pete Posted July 10, 2006 Posted July 10, 2006 Holy Christ that's cheap. I'm tempted to be an absentee for that kind of price. 720752[/snapback] I hear you
taterhill Posted July 10, 2006 Author Posted July 10, 2006 FWIW..the upstairs tenant is on section 8 rental assistance and the rent is direct deposited into my account...translation..no rent chasing...she is a 15 year tenant too
stuckincincy Posted July 10, 2006 Posted July 10, 2006 FWIW..the upstairs tenant is on section 8 rental assistance and the rent is direct deposited into my account...translation..no rent chasing...she is a 15 year tenant too 720766[/snapback] So why are you selling out? What street?
taterhill Posted July 10, 2006 Author Posted July 10, 2006 So why are you selling out? What street? 720784[/snapback] I am building a house in the next couple of months....Mt Vernon Ave 14210
smokinandjokin Posted July 10, 2006 Posted July 10, 2006 FWIW..the upstairs tenant is on section 8 rental assistance and the rent is direct deposited into my account...translation..no rent chasing...she is a 15 year tenant too 720766[/snapback] A 15-year tenant on rental assistance? Mmmmmmm mmmmmmmm! I'd hit it. You can talk South Buffalo chicks into anything....
stuckincincy Posted July 10, 2006 Posted July 10, 2006 I am building a house in the next couple of months....Mt Vernon Ave 14210 720795[/snapback] Hang onto that if you can. Use it to back a loan. The proximity to the park and I-90 could prove valuable. And as you say, you have a reliable tenant.
taterhill Posted July 10, 2006 Author Posted July 10, 2006 A 15-year tenant on rental assistance? Mmmmmmm mmmmmmmm! I'd hit it. You can talk South Buffalo chicks into anything.... 720799[/snapback] 15 years in the house not 15 YO...sicky
Pine Barrens Mafia Posted July 10, 2006 Posted July 10, 2006 15 years in the house not 15 YO...sicky 720808[/snapback] What's the net profit /month?
drnykterstein Posted July 10, 2006 Posted July 10, 2006 hm... 10500 per year in income... no idea what taxes/maintenance costs.. we'll assume half.. 5250 /year in profit? only 14 years to make that money back. Not a bad deal. To bad I'm too lazy to own/maintain a rental property. .. Someone correct my blind uneducated math.
gmac17 Posted July 11, 2006 Posted July 11, 2006 $56,000 15 year mortgage (assuming 14k down, 6.15 percent) is $477 per month
Recommended Posts