Some are on the market due to the unfortunate realities in
the aftermath of the real estate bubble burst.
Others are on the market because the owners simply want to
get out. They want to cut their ties to a city whose municipal government is in
crisis.
Either way, it looks like a buyer’s market if one is willing
to take a leap of faith and invest in the city’s housing stock.
As with all investments, due diligence is needed.
Take for instance just two recent listings of properties for
sale.
The first is located at 29 Hampton Avenue
Highlights
and Description
- 2 stories
- In the Wilbur neighborhood
- Part of the
Investment opportunity. Two unit
semi-detached property has fenced in backyard, plenty of space and did I forget
to mention...Affordable! Seller is Very Motivated, make us an offer today!
It doesn’t show a photo of the property.
Because we are a full-service blog, we offer this image
taken this morning.
And the asking price for this gem of an investment property:
$55,000.
The property appears to be assessed at $44,900 and the taxes
are just over $2,500 per year.
Not much into fixer uppers? Maybe you would this property at 245 Tioga Street.
The description on the website says: Single Family Home for sale by owner in Trenton , NJ
08609
This one even includes
a photograph too.
The property is
reportedly assessed at $40,200 and taxes are just under $2,300 per year.
Of course what
the website doesn’t say is that a Lis Pendens has been filed on this property.
A foreclosure is in the works. Also not noted is that there are two other
creditors who have loaned the owners money with the property as collateral.
If you haven’t figured it out by now, both of these properties are owned by Trenton Mayor Tony Mack.
Buyer beware.
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