House of the Day: 55 Cambridge Place


Fire sale! This four-story brick at 55 Cambridge Place in Clinton Hill just got its second major price cut, one that should put it on the radar screen of many buyers. The three-family house was listed in early December at $1,500,000 before getting cut two weeks later to $1,300,000. Then just last week the price was whacked down to $1,095,000. At a mortgage rate of 5 percent and rental income of $1,500 per rental apartment, you could be living in the owner's duplex for under $1,500 a month including taxes and insurance if you can come up with $300,000 down.
55 Cambridge Place [Warburg] GMAP P*Shark

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