New York, Niagara County, Niagara Falls
This property is located in a quiet leafy street with well maintained private houses. It consists of two large apartments on seperate floors, both with 2 bedrooms, large lounges, seperate kitchens and bathrooms. It also has a large third floor which can be converted or used for storage. Large front and rear gardens and a newly constructed garage.
House size 2,016 sq ft, lot size: 3,920 sq ft
SECURED PRICE OF PROPERTY: $50,000 / €34,268 / £30,340
TOTAL COST TO PURCHASE THIS PROPERTY FREEHOLD INCLUDING ALL PURCHASE COSTS & FEES: $51,000 / €34,943 / £30,947
GROSS MONTHLY RENTAL INCOME: $1050 / €745 / £654
Monthly expenses include:
* Property Tax of $190 / €135 / £118
* Rental Management Fee of $105 / €74.5 / £65
* Insurance $35 / €28 / £21
* Heating $175 / €124 / £109
* Water $27 / €19 / £17
THIS WILL GIVE YOU A NET MONTHLY INCOME OF: $518 / €368 / £323
NET INCOME PER ANNUM: $6,216 / €4,411 / £3,874
We bring to you the whole Package:
1. Low Priced Tenanted Property with High Yield GUARANTEED Rental Income
2. Section 8 Tenants on Annual Renewable Lease
3. Professional Property Rental Management Company
4. Attorney at Law (Lawyer) Assigned
5. Complete Unrivalled Personal Service and Supervision of your Purchase from Start to Finish
Example above is shown without finance, please ask for finance details.
All prices are calculated at the following currency conversion rates: $1.42=€1 $1.62=£1
WHY INVEST IN THE US ? WHY NOW ?
The “Rustbelt” cities of Buffalo and Niagara Falls have been in the unusual position of missing the real estate boom, and therefore not suffering so heavily from the downturn.
As a result a large number of attractive properties can be purchased for relatively low prices (typically $30,000 – $50,000 with very strong yields).
Western New York state is very different from the other “Rustbelt” cities that have suffered badly in the current recession. Buffalo in particular lost its core industrial economy many years ago, and has since developed a broad based economy with four banking headquarters including HSBC’s American head office.
The State of New York University , along with a number of other leading further education and research institutions, like Roswell Cancer Research, are also a major employer in the city.
The numbers of higher income families in Buffalo is growing and the population is relatively stable.
Located in neighbouring Niagara Falls is one of the natural wonders of the world attracting more than 28 million visitors a year. The majority of employment in the area is connected to servicing the tourists in the many hotels, restaurants, casinos, bars etc.
This current real estate anomaly can not last , we believe that there is a window of 6-18 months to acquire these low value homes as current lending restrictions in the US will inevitably relax and market prices will rise once again.
This of course will give good capital growth on present purchases, but will reduce yields on future purchases.
Tel: +44 20 7193 2079
E-mail: info at abbotsinchcapital.co.uk