I just looked at a 14unit brownstone, it has 9-1bd, 4-eff and 1-2bdrm. They are asking 829k, the mtg company SAYS that they would be willing to let someone assume the mtg. mtg is 665k or so. It cashflows about 2400/month including mtg/util/tax/ins. New electrical and plumbing. Has a renter that has lived there since 79! and 2 more from the late 90's. Really charming, neighborhood is okay, can be patchy but close to major academy, so they get alot of students. Roof is 15yrs old, may need replacing soon, but currently doesn't leak. They bought it for 730k 3years ago. Just wondering what others think of these numbers, looking for advice from those in the know. What kind of resale does big property like this have. If I want to buy and hold for say 3-5years, what are the chances that I'll be able to sell for profit?
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