How far the not-so-mighty have fallen! This four-story house at 1182 Bushwick Avenue in, you guessed it, Bushwick, was tapped as an Open House Pick last June when its asking price was $925,000. Today, the four-family can be yours for the rather reduced price of $599,000. Holy 46 percent reduction, Batman! This could be starting to look pretty interesting, given that the interior, while admittedly musty, has plenty of intact detail and the numbers look like they work. At this price, a buyer would be looking at about $2,000 a month in mortgage costs plus another $800 or so in taxes and insurance and another $500 in utilities and miscellaneous expenses. So you could, theoretically, move into one floor, rent the other three for, say, $1,000 a month and live almost for free. Is our math right?
1182 Bushwick Avenue [Century 21] GMAP P*Shark