House of the Day: 55 Cambridge Place
Fire sale! This four-story brick at 55 Cambridge Place in Clinton Hill just got its second major price cut, one that should put it on the radar screen of many buyers. The three-family house was listed in early December at $1,500,000 before getting cut two weeks later to $1,300,000. Then just last week the price…
Fire sale! This four-story brick at 55 Cambridge Place in Clinton Hill just got its second major price cut, one that should put it on the radar screen of many buyers. The three-family house was listed in early December at $1,500,000 before getting cut two weeks later to $1,300,000. Then just last week the price was whacked down to $1,095,000. At a mortgage rate of 5 percent and rental income of $1,500 per rental apartment, you could be living in the owner’s duplex for under $1,500 a month including taxes and insurance if you can come up with $300,000 down.
55 Cambridge Place [Warburg] GMAP P*Shark
in my recent experience you need 25%-30% down to get financing for a 3-family.
“skittles are supposedly racist as there are no black ones (or brown ones either I would guess).”–I have never seen a white Skittle either. I think he must have some other subtext in mind here as it makes no sense otherwise.
About the house, I think that this is a pretty decent value if there really is a nice owner’s duplex to live in. Even with the rental market declining the numbers are pretty favorable on a month to month basis.
Good investment strategy shill. If you had hid in treasuries you would have made a lot of money instead of stupidly leaving it all in your mattress. Hope you don’t live in a crime prone neighborhood. that’d be too bad.
So why is he a shill if he’s pointing out what would otherwise look like a sensible investment??????
wasder…skittles are supposedly racist as there are no black ones (or brown ones either I would guess). Yeah, lame, but go figure…its the What. There are brown M&Ms so skittles are the “code” of choice for What.
I told him to stick with his box of Crows and he didn’t like that.
How much should we include for renovations in an “estate condition” property?
Dave dearest, I have far more than that in my master mattress, which is a Cal King by the way. I was not questioning the wisdowm of Brownstoner’s plan, but rather pointing out what a disgusting shill Mr B is.
11217…I would bet that anything on the UES that is less than $2,000 is on the upper, upper, upper east side. i know my place rented out for $2,500 when i sold it on E 54th St. it will still rent out at that price (doorman building so not totally apples & apples) But, you are correct. These asshats…cornerbodega, Whuh and now this dude without a clue…are really ALL without a clue.
I too would like to understand the “skittles” reference in this context What. Please elaborate.
There are only two rental units, not three, if the floorplan is correct (there’s no kitchen on the first floor). And to use the garden and first floor as a duplex, you have to use the common hallway to get between the two floors of your “duplex”. Also, you only have two bedrooms unless the basement is well finished and someone wants to sleep with the boiler.
I’m not commenting on the math, just that it wouldn’t be exactly fun to schlep up and down the common stairway to get to bed.
Haley