House of the Day: 411 Classon Avenue
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all…
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all look redone, the current asking price of $1,245,000 doesn’t sounds crazy. Unfortunately, that’s not how sales prices are ultimately determined. We suspect that the supply and demand curves may intersect a good bit below this price. After all, while blocks on either side of it keep getting nicer and it has some nice houses, it’s hard to see how Classon Avenue as a whole ever really catches up. Agree?
411 Classon Avenue [NY Times] GMAP P*Shark
downtown starts at Washington Ave these days
close to downtown brooklyn? sure compared to long island! nah, it’s about a thirty minute walk i’d say.
Someday What, Someday….
“Hey What?
How much will this house cost per month?”
Ok here we go! $1,245,000 price, I will say this is owner occupied, Every on wants to live here (ha ha).
20% of 1,245,000 is 249,000 leaves a Mortgage amount of 996000 plus closing cost 37,000 and you must have PITI reserves of 40,000 6 months of payments
Monthly payment: 30 Years
Interest rate: 7.750%
Loan amount: $ 996,000.00
$ 7,135.47 a month
This figure does not have Insurance, taxes and other cost!
Now this is a 3 family. I checked MLS. By the way it’s a LLC flip.
2 2 bedrooms and a Duplex. What can we get for rent?
2 Bedroom 1800 per month with the owner in the duplex. Well I can add 75% from the retails to the owners income. This leaves about 4,000k per month for the owner to cover. Well… how muck would a duplex would rent for 3000k per month? And don’t get me that bull shit about Tax deductions, you have to include rentail income and show a lost.
You are in the suck for about 2000k per month. I would offer 400k and tell the greedy fucks to go to hell. people there is NO MORE price appreciation!!!!!!!!!! The game is over! Whew.
The What
Someday this war is gonna end
What really makes this area bad are those 3 family bad architecture new construction homes being built on the empty lots. I am sure Bedford, Nostrand, Franklin, and Classon will change with time… Seems like something is going to happen to Fulton Street…
Who cares what the name of the area is called hell its New York City… Now lets look at the house… Nice brownstone thats close to downtown Brooklyn…
Classion is changing every year for the better… I think this house is going to go for $1,150,000.
this is brooklyn heights, ft greene starts at classon!
true Bedford Stuyvesant starts after Franklin