Hackensack Condo By The Train
I just listed a 1 bedroom Hackensack condo by the train for $139,000. New Jersey Transit trains go to Penn Station in Manhattan from here. The entire trip takes about 30 minutes so this is a fabulous commute. The building is located only a 5-7 minute walk to the train station
While this condo is on the 1st floor, it’s not on ground level because it’s 1 story above. Maintenance is $259.29 and property taxes are $3,710. The building has an elevator plus covered and outside parking spaces. There is a coin operated laundry room a few doors away from this unit. The floor plan is open. It really is one large space with a separate bedroom.
Sunlight flows in through the sliding glass doors. They open onto a nice balcony which the current tenant enjoys in warmer weather. Ceiling height is good too.
This Hackensack condo is in a location that is upgrading. There are several other buildings on the street and nearby new construction for more condo and rental buildings. Years ago this was a more industrial type area. Investment in Hackensack can be seen throughout the city.
Hackensack is one of 5 cities in Bergen County. We define a city as having 25,000 people or more. Because we are literally on top of Manhattan, Bergen County gets a lot of home buyers from New York City. By NYC standards our cities are suburbs. They do appear this way to be sure. In NYC there are apartment buildings with more than 25,000 people so our cities certainly don’t look like what they’re used to.
Buy It For What You’d Rent It
Hackensack condos are in big demand because they are more affordable than Fort Lee. Both locations have hi rise buildings and many garden and mid rise buildings.
One bedroom units are also very popular because they often cost the same as renting. This is true here too.
This condo would rent for at least $1,200 per month. Mortgage cost is $669.50 at 4.5% with a 5% down payment. Add maintenance ($259.29) and taxes ($310) for a total of $1,238.79 monthly. Insurance costs would be comparable so I didn’t factor that in.
This comfortable and bright Hackensack condo is a great start to home ownership and possibly a great investment too. If you want to take a look, contact me today.