House of the Day: 449 6th Street
If you want a great house in a prime location but need a little extra rental income to pull it off, this new listing at 449 6th Street just might be the ticket. The four-story brownstone is divided up into two duplexes. The listing doesn’t say what one of them would rent for, but we’re…
If you want a great house in a prime location but need a little extra rental income to pull it off, this new listing at 449 6th Street just might be the ticket. The four-story brownstone is divided up into two duplexes. The listing doesn’t say what one of them would rent for, but we’re guessing around $4,500. With rates where they are, that should help cover almost a million bucks of your mortgage. Given the asking price of $2,300,000, that should get you almost halfway there to covering your monthly mortgage nut.
449 6th Street [Corcoran] GMAP P*Shark
How much would it cost to convert this to an owner’s triplex and garden rental..
Does anyone have a sense of how much it would cost to convert this into an owner’s triplex and a rental unit? Also, would you convert the 4th floor to the rental, or as long as your shelling out the cash for the work, convert the garden to the rental and renovate the 4th floor to make it the top level of the triplex?
Montrose;
That is the only logical explanation. Thanks.
Good observation, Montrose!
Regarding the layout – from the floorplans and the photos, seems to me that whoever did this, planned the rooms to most fully maximize the existing period detail. For example, bedrooms on ground floor to free up and maximize parlour floor as main living and dining/kitchen space. Makes sense.
They did the same on the upper two floors – keeping, in this instance, the original details of the bedroom floor – the original bathroom and the dressing rooms between the bedrooms, in their original use, and then renovating the top floor, which usually has little or no important detail, for the kitchen, living room etc. It may make for an unusual layout, but it works, giving one the best of the original house, and the needs of a modern apartment.
“chicken, you’re starting to sound like BHO. This place may actually be attractive to someone who wants to buy a home…whatever additional income it provides probably won’t make or break the deal.
Posted by: daveinbedstuy at February 9, 2010 4:46 PM”
I’ve been saying stuff like that way before BHO – I just try to tone down the crazy.
“The kitchen and the shower curtain will.
Posted by: daveinbedstuy at February 9, 2010 4:46 PM”
ROFLcopter!
denton, i don’t know what the rules are for a couple.
Wouldn’t it be double the 150k AGI for a couple? And wouldn’t that be more typical of a potential buyer? A 2 income couple?
m4l, that’s exactly what happens UPON SALE OF THE PROPERTY. All of the accumulated losses, provided you’ve not held the building so long that they’ve been used up by gains, will net out against your ordinary income at the time of sale.
None of that would be possible while still holding the property.