two family with a rental cottage on a 60 x 100 foot lot. 3 apartments each with 2 bedrooms full tiled baths kitchens with appliances Gas Ranges Dishwashers and Refrigerators living rooms. the main house1st floor has a dinning room and a office area or entrance area 12x10 The roof is about 10 years old 1st floor heating has been re piped in 2014 with Pex Piping filled with antifreeze in Gas hot water system and boiler rebuilt in 2004 new up dated circulator rear deck and covered front porch rear and side yard are fenced Galley kitchen in 2nd floor apt cottage has gas hot air heat each tenant pays all their own utilities 1st floor will be freshly painted no basement has crawl space. flood elevation is above FEMA flood insurance minimum height which makes Flood Insurance cheaper the Rent roll is 1800 for the one apartment in the main house and cottage Owner occupies 2nd apartment in main house which could be rented to Gross $30,000 per year or live in it all year or just the Summer at the shore. It is 4 blocks from the Board Walk and 4 blocks to shopping center Water and sewer about $1000 per year Flood insurance $450 per year Home Owners insurance $1450 taxes $5600 you can live here free and have the Tenants pay off the mtg and still have positive cash flow Costs approx $8500 per year income $21,600 mtg with 20% down is about $15,300 per year showing $6000 positive cash flow This is with you living rent free If using as an Investment Property add another 6000 to7000 per year total $12000 positive cash flow I will show you how to save 50% of the interest payments for the life of the mtg
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