• Split Level Two Family
• 5 Minutes Walk To LIRR
• 30 Minutes to Manhattan
• Open Floor Plan
• Large Living room
• Granite Countertop
• Stainless Steel Appliances
• Dishwasher
• Modern Bathroom
• Central Air and Hear
• Use Of Yard
• On Residential Quiet Street

• Property Located Directly Adjacent To Bayside LIRR Station
• Double Net Leases, Annual Income Around $250,000.00
• 10 Cars Parking At Side Of Building
• CAP Rate 7.3%
• Lot Size: 13,061 Sqft
• Building Size: 9,360 Sqft

Prime Location, Corner Property, R4B Zoning, It Can Be Changed to Two Family. Super Mint Condition, Living Area Over 2,000 Sq Ft, Near E/F Train and LIRR. Above Ground Walk-In Basement. Forest Hills Best School District #28, Hard Wood Floor Through Out. European Style Open Kitchen, Granite Counter Top, Master Bath with  Jacuzzi and Sauna.

Currently occupied by Japanese Restaurant (by owner).

• 105 Persons + 38 Car Parking
• Business Sale Volume: $1.2Million Yearly
• Building Size Approximately 5,000 Square Feet
• Real Estae Approximately $90,000.00 Annually

Prime location in Jackson Heights. Corner building, two stores and four legal family. One of two bedroom apartment and one of three bedroom apartment on second floor and third floor.

Income Monthly Income:                        Annually Expenses:

Store 1: $4,500.00                               Real Estate Tax: $19,310.00

Store 2: $2,700.00                               Insurance:          $3,700.00

2nd Fl, 2BR Apartment: $1,300.00           Total of Expenses: $23,010.00

2nd Fl, 3BR Apartment : $1,200.00

3nd Fl, 2BR Apartment : $1,400.00

3nd Fl, 3BR Apartment : $1,100.00

Total of Monthly Income: $12,200.00

Total of Annual Income: $146,400.00

Annual Net Income: $123,390.00

Excellent Condition, Convenient Location. One Block Walking Distance To Local, Express Stop And Local Stores.

There are three questions you should ask before purchasing in today’s market:

1. Why should I buy if house prices are still depreciating?

We believe that in most parts of the country prices will in fact soften in 2011. Price is the major concern for anyone selling a home. When you are buying, COST should be your primary concern however. Your monthly payment (cost) is definitely impacted by the price of the home you purchase. The other major component is the interest rate. Waiting for prices to bottom out while rates are increasing can wind up costing you more over the life of the mortgage (see chart here).

Over the last seven weeks, rates have increased over 1/2 a point going from 4.17 to 4.86. Looking at the attached chart shows this increase. Waiting for prices to bottom out seems to make perfect sense. Yet, at a time when rates are increasing, it might NOT make sense. Make sure you have a mortgage professional help you with this math before making a decision.

In an article last week CNN Money reported:

“You can kiss those record lows goodbye,” said Greg McBride, chief economist for Bankrate.com.

Keith Gumbinger of HSH Associates, a provider of mortgage information said that the market reached a new plateau.

“I don’t think we’re going back to a 50-year low anytime soon without an economic collapse,” he said. “Rates will probably never revisit those levels.”

2. When will I begin to see appreciation if I buy now?

This is a great question. Macro Markets, LLC is a company that studies housing prices. They started their Home Price Expectation Survey in 2010.  They ask 100+ housing industry experts to project housing prices through 2015. The most current survey shows that the experts are predicting prices to soften until 2012. The experts then project prices to rise reaching a cumulative appreciation of over 10% by 2015.

Purchasing a home today makes great sense from a financial standpoint. Think of the old axiom: You want to buy low and sell high. We may be at the low point regarding the COST of a home. But, this decision should not only be a financial one.

That leads us to our third and final question:

3. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. The Fannie Mae National Housing Survey shows that the four major reasons people buy a home have nothing to do with money:

• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of the space

What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the reason whether you decide to purchase or not.

Bottom Line

The COST of a home will probably remain relatively unchanged even if prices continue to depreciate. Don’t allow money to get in the way of you making the right decision for you and your family. In the long run, the finances will work in your favor anyway.

Source: KCM Blog

Excellent condition and location, Q10 bus stop is in front of the building. 5 minutes to E and F train. LIRR is two blocks away.

A Must See 3 Bedrooms in Bay Terrace Area,Sunfilled Corner Unit;Designer Decorated;Diamond Condition, High End Renovation Throughout.Near Shopping Mall, Library, Bus Stop & Major Highway. Maintenance Fee includes all Utility Fee, Tax and Parking.