House of the Day: 289 Garfield Place
289 Garfield Place was an Open House Pick last month shortly after it hit the market with a price tag of $1,950,000. It’s a nice house in a nice Park Slope location, but it feels to us like it lost a bit of its soul when it was recently renovated. It’s also a four-family house,…
289 Garfield Place was an Open House Pick last month shortly after it hit the market with a price tag of $1,950,000. It’s a nice house in a nice Park Slope location, but it feels to us like it lost a bit of its soul when it was recently renovated. It’s also a four-family house, which takes it out of the running for a lot of family buyers. Of course, having three rentals does help take the sting out of that monthly mortgage payment.
289 Garfield Place [Corcoran] GMAP P*Shark
>>idiots, right?
Nope, just people with stupid TARP money burning a hole in their pockets.
I wish Mr. B would enforce some basic language & respect rules. I have come to dread the StevieB persona. V. irritating.
Grand total rent roll: $10,100
So I just looked this place up on Streeteasy and it actually has the rental amounts listed…I forgot about that…i guess they were the rental listings so they could have actually rented for a little less, but probably unlikely…
So I was really close:
Duplex rent was $3200
The studio last rented in 2007 for $1400.
And the floor throughs were $2600 and $2900…
I know my rental prices in PS better than I thought!
Dibs, 123,600 – 17,580= 106,020, which put the sweet spot for this house as an investment around $1,767,000.
>> nyc investment pppty buyers are assuming price appreciation.
ROTFL! Where are you seeing price appreciate, ANTIDOPE?
F*CKING perma bull! FCK YOU!
Not living there…purely an investment property. renting out all 4 units.
“Your neighbors are being robbed.”
According to most on the website, it sounds like every person who rents or buys anything is being robbed (see Avalon thread today) so I guess it’s par for the course in this city then, eh?
As someone who looks at real estate A LOT, you are not going to find a studio anywhere in Park Slope proper for 900-1200.
$1300 is about the cheapest I’ve seen (and I actually saw it in person and it was CRAP!) unless you are finding something through a friend of a friend or something…
dibs- that may be what it’s worth to you, but you would not be the buyer…comps are higher.
minard- it is a bad small business; if it’s financed with an 80/20 loan you’re in the red even before taxes and maintenance. and that includes no salary!
even post apocalypse, nyc investment pppty buyers are assuming price appreciation. they are the real perma-bulls.