New Jersey
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New York
Rochester, New York Market
Rochester hit severe economic decline 15 years ago when Eastman Kodak and Xerox did major layoffs. Housing has remained flat there for years, and is not likely to appreciate very much over the next several years. However, there has been an announcement of 5,000 more Section Eight Grants coming this year, and the rents are extremely high compared to the low purchase prices. Rochester is doing a lot of city led revitalization. In worst case scenario if you paid cash for these duplexes, it wouldn’t be hard to have all of your money back in two and a half to four years! Then if you owned them free and clear, they would be cash cows. The units below feature separate metered units in which the tenants pay all utilities.
2/1 Single Family $29,000
New paint, roof, windows, vinyl siding. Rent is $635.00 Taxes are only $1300.00
4/1 Single Family $44,500
House is currently rented for $825.00 Taxes $1150 per year! Insurance is less than $500 per year. Painted asphalt siding and aluminum trim. All new replacement windows. Newly painted and new rugs.
5/2 Single Family $49,900
This house is currently rented for $925.00 and the total taxes are $2100 per year. The insurance is $500 per year. Newly painted exterior, New roof on most of it.
3/1 Single Family $42,000
All remodeled, must see! Some hardwoods, tile and new carpet. Last 5 years all new mechanicals. Practically maintenance free. Vinyl siding, aluminum trim, new 30 year architectural roof! Gem of an investment! Current rent $750, some section 8. Great tenant on a one year lease.
6/2 Single Family $21,900Single-family currently rented for $750/mth: 6 bedroom, 2 baths, 1956sqft built in 1925. Property taxes are currently $1,086/yr
3/1 Single Family $29,900 Owner Financing With $4,900 down
Single-family with 3 bedroom, 1 bath, 1360sqft built in 1920. Currently vacant (tenants just moved out), needs some cosmetic updates to get in shape to rent (front part the roof needs some work). Should rent for somewhere between $675 and $750 depending on how nice you make it. $29,900 with owner-financing ($4,900 down leaving a loan of $30,000 for 15 years at 8.9% with payments of $252.08/mth, balance due in 5 years). The property taxes are currentyl $1,683/yr. I'll go lower on the price for all cash (make me an offer).
Duplex $39,900 Owner Financing
Two-family with separate utilities. Rents are $460 and $380 ($840 Total Rents). Property taxes are currently $2,025/year. OWNER-FINANCING AVAILABLE.
4/1.5 Single Family $21,900
Single-family currently rented for $750/mth: 4 bedroom, 1.5 baths, 2456sqft built in 1880. Property taxes are currently $1,621/yr.
Duplex 2/1 units $46,000
Price: $46,000
After Repair Value: $60,000
Market Rents: $1,200 Currently Rented
Description: Duplex both 2/1 units Excellent Condition 1,750 sq.ft.
Address: 431-433 Garson St, Rochester, NY
Price: $38,000
After Repair Value: $45,000
Market Rents: $1,025 Currently Rented
Description: Duplex 3/1 unit and 2/1 unit 1,230 sq.ft. New windows, roof, furnaces, siding.
Address: 257 Alfonse St, Rochester, NY
After Repair Value: $59,000
Market Rents: $1,300 Currently Rented
Description: Duplex 3/1 units 2 car garage. New roof and windows.
Address: 306-308 Garson Ave, Rochester, NY
Price: $51,000
After Repair Value: $60,000
Market Rents: $1,200 Currently Rented
Description: Duplex both 3/1 units FULLY RENNOVATED
Address: 491 Jay St., Rochester, NY
Price: $32,000
After Repair Value: $40,000
Market Rents: $1,150 Currently Rented
Description: Duplex 3/1 amd 2/1 units. New siding, roof, gutters, flooring, bathrooms.
Address: 161-163 Michigan St, Rochester, NY
Price: $29,900
After Repair Value: $35,000
Market Rents: $1,100 Currently Rented
Description: Duplex 2/1 units. Home in Good condition. City just built 40 new homes on this street.
Address: 174 Fulton Ave, Rochester, NY
Price: $34,900
After Repair Value: $35,000
Market Rents: $1,000 Currently Rented
Description: Duplex 2/1 and 1/1 units 3 car garage. Home in Good condition.
Address: 4 Broezel St, Rochester, NY
Price: $20,000
After Repair Value: $25,000
Market Rents: $1,000 Currently Rented
Description: Duplex 2/1 units. Home in OK condition.
Address: 31 Peckham St, Rochester, NY
Price: $32,000
After Repair Value: $37,000
Market Rents: $1,060 Currently Rented
Description: Duplex 2/1 units. New Roof, windows, siding, hot water heaters, furnaces, paint.
Address: 154-156 Breck St, Rochester, NY
Price: $18,000
After Repair Value: $28,000
Market Rents: $1,250
Description: Duplex 3/1 units. New Roof, windows, siding, hot water heaters, furnaces, paint.
Address: 37-39 Diringer Pl, Rochester, NY
Price: $15,000
After Repair Value: $22,000
Market Rents: $1,000 Currently Rented
Description: Duplex 3/1 and 1/1 units. In fair Condition.
Address: 113 St. Stanisiaus St, Rochester, NY
Price: $42,000
After Repair Value: $49,000
Market Rents: $1,175 Currently Rented
Description: Duplex 2/1 units 3 car garage. In good Condition.
Address: 1036-1038 Dewey Ave, Rochester, NY
Price: $45,900
After Repair Value: $49,000
Market Rents: $1,200 Currently Rented
Description: Duplex 2/1 units 2 car garage. In great Condition, new windows, all mechanicals good.
Address: 1929-1931 Clifford Ave, Rochester, NY
Pennsylvania
Pittsburg has actually been more robust than most economies through the recession, because it had strong economic contraction during and just before the US boom. There are several stable areas where properties can be bought in good condition at very low prices, and yet rent for very good returns. This market should experience moderate appreciation, but you can buy with significant equity and cashflow.
10 Unit Mixed Use Development
Price: $120,000
After Repair Value: $250,000-320,000
Market Rents: $1,300
Description: 10 Units - 8 Residential (6 3/1, 2 -4/1) & 2 Commercial Storefronts. 4 Units in the back side of the building are completely renovated with nice tile floors, updated kitchens, updated bathrooms, updated carpet, and much more. Needs $58,775 to finish rennovation
Address: 1087 Brackenridge Ave. Brackenridge, Pa.
GROSS INCOME (EST): $48,000
INSURANCE (EST): $1,500
UTILITY EXPENSES (EST): $8,500
TOTAL TAXES (EST): $2,925
MAINT ALLOWANCE (EST): $5,000
COIN OP LAUNDRY SERVICE = +$2,500
5% VACANCY RATE (EST): $1,600
NET INCOME (EST): $30,975
Price: $30,000
After Repair Value: $70,000-80,000
Market Rents: $650
Description: 3/1.5 Best Part of town, by country club, best schools
Address: 332 Independence Court, Sharon, PA 16146
Price: $27,900
After Repair Value: $55,000-65,000
Market Rents: $650
Description: 3/1.5 Detatched garage, bank started at $55,000 Needs only minor repairs
Address: 327 Beechwood Ave. Farrell, PA 16121
Price: $75,900
After Repair Value: $185,000-200,000
Market Rents: GOOD PROPERTY TO FLIP FOR $60,000 profit
Description: 3/1.5 built 1959 Was listed at $165,000 as is, in best schools in desirable city.
Address: 3533 Ellwood Rd., Shenango Township, PA
Price: $25,900
After Repair Value: $55,000-65,000
Market Rents: $600
Description: 3/2 Nice area of town, close to casinos and race track that are being built
Address: 1006 N. Jefferson St, New Castle, PA 16101
Price: $29,900
After Repair Value: $70,000-80,000
Market Rents: $700
Description: 4/2 in very good neighborhood and in market that has seen much economic development
Address: 813 Crescent Ave., Elwood City, PA 16117
Price: $39,900
After Repair Value: $75,000-85,000
Market Rents: $1,100
Description: Triplex 2- 2/1 units, 1- 1/1, Good part of town, Needs $10,000-12,000 repairs
Address: 598-600 McClure Ave., Sharon, PA 16146
Price: $29,900
After Repair Value: $65,000-75,000
Market Rents: $725
Description: 4/1.5 2,217 sq. ft, Good area, last sold for $65,000 MOVE IN READY
Address: 322 Park Ave., New Castle, PA 16101
Price: $32,000
After Repair Value: $79,000
Market Rents: GREAT FLIP PROPERTY
Description: 2/1.5 1 car garage, IN COLLEGE TOWN,
Address: 627 Craig St., Grove City, PA
Price: $26,900
After Repair Value: $75,000-85,000
Market Rents: $700
Description: 4/1.5 1 car garage, $12,500
Address: 136 Clarksville St., Greenville, PA 16125
Price: $22,900
After Repair Value: $60,000
Market Rents: $550
Description: 4/1.5 2,063 sq. ft., FULLY RENNOVATED 3 YEARS AGO!
Address: 709 E Reynolds, PA 16101
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