Tuesday, July 13, 2010

Delightfully Do-able: 133 Waverly Avenue

This isn't the prettiest horse in the stable, but at prices cheaper than many condos, 133 Waverly Avenue could be a great way to own in Clinton Hill. A legal two-family puts this asking price well within the FHA loan limit. Again, talk to your mortgage man. But 3.5%-5% down to own over here wouldn't be too shabby. Just off Myrtle Avenue, which has lots to offer. Nice wide lot with a back yard and a back balcony/deck in both apts. Not sure how it's being used as 4-family, but that's worth looking into. Could be a place where owning costs close to the same as renting with not too much money upfront. Having the G as the closest train, though, will make some cheer and others wimper. Although the bus running down Myrtle is the way most in the neighborhood commute to a Manhattan-bound train.

On the same block as yesterday's Clinton Hill "Mystery Meat", but a much wider building for some $75K less.

Also, this agent has lots of multi-family listings in Clinton Hill that might not come up in searches in the usual places. So there's lots to uncover. I'll try to get more info on a few more and take a closer look.

Pro's: affordability, size, yard

Con's: not much curb appeal, a little off the beaten path train-wise

Ideally: this could be a great way to own, and there's gotta be a happy medium just below offer price.

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