Property Q&A in New York>Question Details

Jeff Shortway, Both Buyer and Seller in Ringwood, NJ

What could you get for monthly rental on a property like this?

Asked by Jeff Shortway, Ringwood, NJ Fri Jan 2, 2009

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This question is about this property: http://www.trulia.com/property/1071712003-130-W-67th-St-6-C-…

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1
Looking at the asking rents for one bedrooms in this building dating back to August, the highest rent paid was $3,000 (and that was back in August when the rental market was a bit stronger). Now you're looking at the $2,500 range, maybe a little more since this is a brand new renovation. If you're thinking about buying purely as an investment property, keep in mind this is a co-op, and most co-ops have a subletting requirement where you have to use the apartment as your primary residence for a certain amount of time (usually at least a year, often more). Condos are much easier to deal with as investment properties since most of them won't have subletting restrictions (although some do). If you are looking for investment properties, tell me what you're looking for and how much you are willing to spend. My email is rdaub@warburgrealty.com.
0 votes Thank Flag Link Fri Jan 2, 2009
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