Sunday, October 13, 2013

Listings: 2-Family Open House Today - 1409 Troy Avenue

New to the Listings section of the blog, it's a turnkey 2-Family house with a garage asking only $615K with an open house today from 2:00pm to 4:00pm.  Now, we know the average brownstone Brooklyn buyer isn't ready to go deep into East Flatbush, but 1409 Troy Avenue offers a turnkey owner's duplex in a modern style, plus a rental unit and a garage.  All available within the FHA loan limits, as the listing broker's advertising "3.5% down payment" & "can live rent free".

There's an even more modern bathroom photographed on the flyer that doesn't appear in the listing.  Billed as a 2-Family, the finished basement "apartment" may even be legal as a 3.  The median price per square foot out here for townhomes under 4,000 square feet has been $220 over the past 6 months.  1409 Troy Avenue - at over 3,100 square feet - is listed below that number.

Pro's:  totally turnkey, recent price drop, less than most 2BR condos, low down payment can get it done, detached 2-car garage

Con's:  no pic of the yard, we can't say if it's best of breed out here, few are in a rush for deep Flatbush, not everyone's style, a hike to the end of the train line

Ideally:  if you can really do it with 3.5% down, the economics may work for someone and the garage may diminish the distance

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