House of the Day: 498 Henry Street

This FSBOisn’t going to win any beauty contests (it appears to have been stripped of much of its charm over the years), but it’s a decent-sized building in a good, albeit somewhat commercial, location. The rental income on the four-family is $96,000 which will barely cover the mortgage when you allow for $20,000 or so of expenses. So the buyer’s going to have to be someone who wants to grow into the building or an investor with a very long time horizon. Anyone know how long this has been on the market?
FSBO House [498Henry.com] GMAP P*Shark
Feb 13, 2012 | 10:33 AM