I just listed this 3 family that actually has 4 units. If you are in the market for a small investment property, this is a good building. The monthly rental income is $4,300. Because it's an investment property, banks will require you put down 20% or $97,000 for your mortgage. The monthly expenses including taxes, insurance, common utilities, water & sewer, vacancy loss, and your mortgage will come to about $3,500.
For those of you who can do math, that's $4,300 (income) minus $3,500(expenses) which equals $800/month in positive cash flow, or $9,600/year. That's almost a 10% return on your initial $97,000 investment!
If you're a wanna be real estate mogul, this may be a good opportunity to jump in the game. Call or email me with questions or to set up a showing.