Location, location, location. This charming multi-family is located just a few steps from the Metro North train station on a private one way street and is equipped with a four car driveway. Investors delight in the Tuckahoe School District, two 3 bedroom duplexes potentially generating $7,000 ($3,500 per unit) per month in income. Each duplex has three spacious bedrooms, perfect for a family to live in one and rent one. Freshly painted with updated mechanics and recently updated kitchens and bathrooms. This home features a communal porch space and flowers lining the front yard. There is a shared washer/dryer room that can be accessed in the back of the house. Each duplex also has their own private porch overlooking the backyard. Perfect for the investor or homeowner looking to reduce expenses. Home is also zoned for single family. Taxes do not include basic star reduction of $1,724.
Frank Morris and Ashley Caputo of Barhite and Holzinger Inc present to you this great opportunity to own with the Town of Eastchester in the Village of Tuckahoe. Our estimated monthly mortgage amount is 4,392. That includes the property taxes, a rate of 4% interest, and a 20% down payment. Potentially you can pay off about 80% of your mortgage if you choose to lease one of the units at $3500 per month and live in the other, you will also be eligible at that point for the school tax reduction of $1,724 annually or 143 dollars per month, reducing your mortgage amount to about 4249 per month after the reduction. If we reduce our potential rental income of 3500 from 4249 (After star mortgage) you are at $749 dollars per month! Lets not forget that you also will have the benefits of home ownership and your mortgage interest tax deduction. As the landlord you would also include your fuels, heating costs, and factor in a maintenance figure.
There are no other multi family opportunities in the Tuckahoe School District.
The multi family housing market has seen some great increases in value over the past few years, especially in Westchester County where the demand has remained high and homeowners are looking to offset their mortgage payments with income, or investors are speculating the growth of the neighborhoods as people move into the suburbs from NYC.
We will be hosting an open house this Sunday from 1-3 P.M., please join us!