**Highest and best due Thursday 5/11 at 4pm** Come be part of the Greenville/West Bergen resurgence! This 2 family home with 2 car covered parking has had significant upgrades done to it in the last 4 years. Move right in to one unit and rent the other to significantly cut your monthly cost. Or rent out both and achieve nearly a 8% cap rate! Home will be delivered vacant. Unit 1: Roughly 1600 Sq Ft duplex. 2 Bedrooms, 1 Full Bath, LR, DR and Kitchen on first floor. Downstairs has a partial kitchen, 1.5 Baths, an office/bedroom, LR, and washer / dryer. The entire basement level was re done in 2019, the first floor bathroom, vinyl floors, doors and paint were done. This unit has direct access to back yard where the 2 car covered car part is. This unit would rent for about $3250 with 2 parking spots right now. Unit 2. Roughly 800 Sq ft. This unit was renovated in 2019 and has 3 bedrooms and 1 bath, LR, DR and would rent for $2000 a month. The home has a new HW heater put it in 2019. The basement has electric heat / appliances. Both units have shared gas HW radiator heat and HW heater. Each unit has a separate electric meter. 1st floor has gas appliances and electric in basement and 2nd floor has electric appliances. This home has a 8% cap based on following pro forma rent roll and expenses. Unit 1 $3250 a month, Unit 2 $2000 a month in rent. Yearly expenses are $7400 for taxes , $4800 for whole home utilities for both units combined, $1250 Insurance and $2000 Water/Sewer. Rent Roll is $63000 and expenses are roughly $15450 for a Net Income of $47550 and purchase price of $600000. This home will cash flow at around $660 a month with a 25% down 8% DSCR Loan at $600000 purchase price. A savvy investor could look to hold this and refinance when rates come down while simultaneously seeing rental prices and home values in the area increase year over year for an insane cash flow in the future. Come take a look at this awesome investment opportunity.
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