If the gross income is $76,000 per year,
If the gross income is $76,000 per year, and the expenses are $32,000, you have net income before debt-service of $44,000. I bring it up because people are sometimes still using it, and there are better ways to estimate value. Suppose these sources provide $6,000 of the income. Is the seller is showing you ALL the normal expenses, and not exaggerating income? If the common rate is .08, meaning investors in the area expect only an 8% return, the value would be $550,000. A gross rent multiplier is a crude way to put a value [...]
Bergen County homes
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