SOLD!!
358 Beach 88th Street is offered for sale at $425k.
This house is listed for sale by owner. *Disclosure: Owner is a licensed real estate agent.
358 Beach 88th Street is a legal two family home located on the bay side of Rockaway Beach. It was in the same family for some 40 years before being purchased by "Reclaimed Home" for restoration.
This was not a gut renovation as we wanted to reuse as much of the original material as possible. The mechanics have been updated and the roof is fairly new. All of the leaks that were slowly destroying the house have been repaired, whether they came from siding, plumbing or gas. Yes, we counted 5 gas leaks prior to running all new lines!
This house is listed for sale by owner. *Disclosure: Owner is a licensed real estate agent.
358 Beach 88th Street is a legal two family home located on the bay side of Rockaway Beach. It was in the same family for some 40 years before being purchased by "Reclaimed Home" for restoration.
This was not a gut renovation as we wanted to reuse as much of the original material as possible. The mechanics have been updated and the roof is fairly new. All of the leaks that were slowly destroying the house have been repaired, whether they came from siding, plumbing or gas. Yes, we counted 5 gas leaks prior to running all new lines!
Some Basics:
Year Built: 1920
Square Footage: 1200 + 600 unfinished basement
Number of Bedrooms: 3
Number of Full Baths: 2
Rental Market Value: $1400 x 2 apartments
Annual Taxes: $1800
Flood Insurance: $750 per year on top of homeowner's insurance
Year Built: 1920
Square Footage: 1200 + 600 unfinished basement
Number of Bedrooms: 3
Number of Full Baths: 2
Rental Market Value: $1400 x 2 apartments
Annual Taxes: $1800
Flood Insurance: $750 per year on top of homeowner's insurance
Mortgage Scenario
Purchase Price: $425,000
Rate: 4%
Term: 30 years
Down Payment: $42,500 (10%)
Annual Taxes: $1800
Insurance: $ 2000 annually
Monthly Payment: $ 2142.78
Live in one apartment and rent the other out for $1400. Yes, that's under $800 per month! Less than rent. The only thing you have to do is come up with that pesky down payment and get a loan. Talk to a bank or mortgage broker to see if it's possible!
Purchase Price: $425,000
Rate: 4%
Term: 30 years
Down Payment: $42,500 (10%)
Annual Taxes: $1800
Insurance: $ 2000 annually
Monthly Payment: $ 2142.78
Live in one apartment and rent the other out for $1400. Yes, that's under $800 per month! Less than rent. The only thing you have to do is come up with that pesky down payment and get a loan. Talk to a bank or mortgage broker to see if it's possible!