Re: [ Gen. Discussion ] Adolphus Avenue For Sale S

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Re: [ Gen. Discussion ] Adolphus Avenue For Sale S

Posted By: Cliffy
Date: Tuesday, 13 June 2006, at 10:29 p.m.

In Response To: Re: [ Gen. Discussion ] Adolphus Avenue For Sale S (Hot East)

Here is the math for the $450,000 teardown house or run down duplex in CP. Duplexes are between 550k and 650k , altough they may drop by end of summer. Anyway , assuming you find somthing you like for 450k.
$450,000 Sale Price
$45,000 Down Payment at 10%
$405,000 Mortgage Amount
$2,560 Monthly Payment for P/I- 30 YEAR AT 6.5%
$75 PMI ( For down payment less than 20%)
$600 Real Estate Tax (Modest $7,200 tax bill)
$3,235 Total Montly Payment
Now Hold Your Breath
$138,643 Yearly Income Needed to Qualify for standard mortage with the 28% rule (28% income needed to cover mortgage and taxes).
Now you see why the real estate MARKET is ready for correction not only here but all over NY area.
If you make the median income in CP , FORGET IT

Messages In This Thread

[Gen. Discussion] Adolphus Avenue For Sale Signs
McMansion Owner -- Wednesday, 7 June 2006, at 9:45 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Grant Wood -- Friday, 9 June 2006, at 6:32 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Saturday, 10 June 2006, at 9:47 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Saturday, 10 June 2006, at 10:57 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
jerseyangel -- Sunday, 11 June 2006, at 1:00 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Sunday, 11 June 2006, at 8:32 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Sunday, 11 June 2006, at 10:56 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Monday, 12 June 2006, at 1:04 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Monday, 12 June 2006, at 7:39 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Tuesday, 13 June 2006, at 10:40 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Grant Wood -- Tuesday, 13 June 2006, at 2:33 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Derek -- Tuesday, 13 June 2006, at 7:43 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Wednesday, 14 June 2006, at 9:32 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Wednesday, 14 June 2006, at 11:13 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
jerseyangel -- Monday, 12 June 2006, at 11:24 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Tuesday, 13 June 2006, at 12:30 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Tuesday, 13 June 2006, at 12:10 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Wednesday, 14 June 2006, at 12:20 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Cliffy -- Tuesday, 13 June 2006, at 10:29 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Wednesday, 14 June 2006, at 9:36 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Wednesday, 14 June 2006, at 4:36 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Grant Wood -- Thursday, 15 June 2006, at 6:40 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Hot East -- Thursday, 15 June 2006, at 3:44 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Thursday, 15 June 2006, at 11:37 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
McMansion Owner -- Thursday, 15 June 2006, at 11:34 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Grant Wood -- Wednesday, 14 June 2006, at 12:19 p.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Mark -- Thursday, 15 June 2006, at 7:55 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Landru -- Monday, 19 June 2006, at 8:12 a.m.

Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Fred -- Friday, 9 June 2006, at 8:19 a.m.

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