RENTAL

domino · January 2009

Both units in a 2 family house -
UNIT 1: 3 bedrooms/1.5 bath LR, DR (updated kitchen)
UNIT 2: 1 bedroom/1 bath LR and EIK
Share laundry room and HUGE backyard - NO PARKING

Thinking of renting versus selling. What are the average rents?

SMALL BLOCK NEAR OWLS HEAD IN NORTH BAY RIDGE????

domino · January 2009

Yes close to Colonial Rd

domino · January 2009

Yes close to Colonial Rd

flux · January 2009

Its much better to rent then to own in todays market. The difference between the expenses of owning and renting are too great. I will wait till your properties go down by 40% before I consider buying.

flux · January 2009

Its much better to rent then to own in todays market. The difference between the expenses of owning and renting are too great. I will wait till your properties go down by 40% before I consider buying.

domino · January 2009

Subject: Rental

No - I already own.

Was thinking it might be better to rent it out for now - but not sure what the average rentals are for each unit.

I was told that the homes in that area sell for $700K. Not sure if this is up/down - improving/declining, etc.

hitokiri · January 2009

hmm... no parking. That is a killer, especially in that area.

How many sq ft are we talking about for each?

edit:

I live right near Xaverian. So I'm pretty sure about the pricing

domino · January 2009

The 3 bedroom unit is about 1,450 and the 1 bedroom is around 750 sq ft. Since it is a small block - and almost all of the other homes have garages and LONG driveways - parking has never been a problem (even on holidays).

hitokiri · January 2009

3 bedroom is basically like a condo.

$1400 easy. Probably add another $200

other one...
$1100... give or take $100

Sounds like it was one big house that was split into a duplex

One of the easiest ways to figure out the pricing would be to go by what the mortgage was and work it like that.

Let me ask, the 3 bedroom one....do you have 2 floors? Like upstairs are the bedrooms and downstairs is the kitchen/LR?

If thats the case, that $1600 easy with room to tack on more. But it would seem you would be looking for a family to move in or a bunch of roommates.

domino · January 2009

Actually, it was built as a real two family house. The larger apartment (upper) has a foyer (w/closet) living room, dining room, kitchen and powder room on the first floor and then upstairs has a hallway with 2 closets and 3 bedrooms (with LARGE closets) and the main bathroom.

The lower apartment has a foyer (no closet), living room, bedroom (good sized closet) eat in kitchen and bathroom (large shower stall but no tub).

There is a shared laundry area running the length of the living rooms (roughly the same size in both apartments) on the lower level. The upper apartment would access it thru a staircase located just off the kitchen (locked door) and the lower apartment would access it thru a door (steel with lock) by the foyer.

No mortgage so no rule of thumb to apply. I guess a family would make most sense since the backyard is HUGE by Brooklyn standards - at least 70 feet - half patio and half lawn. There is a gazebo (pergola?) of sorts that takes up the remaining 15 feet or so.

hitokiri · February 2009

i say try for $1500 for the larger one and $1000 for the smaller.

def do background checks (they pay for it) and proof of income for the past 3 months.

anastasia beaverhausen · February 2009

I used to live right in that area - parking sucks especially around a holiday when everyone and thier mother is in Owl's Head. I distictly remember driving around for well over an hour and still having to park eight blocks away from my apartment on Halloween.

nonhipoldbklynchick · February 2009

WOW....$2300 for a one bedroom on 4th ave and 19th street and $1500 for a 3 bedroom across from a beautiful park with good schools within walking distance, and the express bus around the corner? I think that large apartment should go for at least $1800, but I haven't rented in a long time.

hitokiri · February 2009

4th ave and 19th st is a LONG ways away from Owls Head.

I know someone who is paying $1000 a month for a 10x10 studio. It's nuts.

I am renting, have a balcony overlooking the water (and staten island) lol and I am approx 2 miles away from the Verrazano bridge.

I also have that great bus access, hardwood floors, 9 windows and 3rd and 5th ave's are right around the corner.

$1300 a month (not counting $200 for parking *IF* you need it)

So yeah, considering he does have more rooms, but no water view, no parking and junk. I think...and it's only opinion, that $1500 is fair. I personally would not pay anymore unless I intended to own it.

When you start paying mortgage prices, but the money isnt going to anything, it's time to move.

RENTAL

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