tom,

You may do well to check out the Landmark East in Ridgefield Park, NJ. It's a nice building with a pool. There is currently a studio apartment listed at $45K. MLS# 2806134

Sun Feb 17 2008, 21:45

Hi Tom,

I checked my files and I have floor plans for all the units in Linwood Park with dimensions. Contact me through my website if you want me to send them to you.

-Marc

Mon Jan 14 2008, 20:26

Hi Tom,

1) There are a couple of units in Linwood Park which are around $80,000. 3050 Edwin #4D is a 350 sqft studio in move-in condition with an asking price of $79,900. 3040 Edwin #3D is the same unit, but needs work (hardwood floors need refinishing, paint, carpet, appliances, etc.) It is on the market for $69,900.

As far as qualifying, you need 20% down, no exceptions. Then, Linwood Park has a 3:1 income to expense ratio. So at $79,000 your monthly expenses would have to be under $2,194. (Mortgage+maintenance+consumer debt service). The maintenance on Linwood Park studios is about $315, so you can use that to figure your ratio.

2) Open houses are not all that common on low priced co-ops. They're usually not worth an agents time quite honestly. If you want to look, it's best to just select an agent and let them arrange access.

In Fort Lee at this price point, Linwood Park is your best bet. Occasionally a unit will come on in Half Moon House, but there's nothing right now.

If you have any other questions, contact me through my website. Good luck!

-Marc

Mon Jan 14 2008, 19:56

Tom,
I just checked our MLS and there are 35 co-ops for sale in Linwood park. They range in price from 69,900-110,000 for studio apartments. If you contact me through my website (below) I can email you all the listings and check for any open houses for you. I look forward to hearing from you.

Sharon Kozinn

Mon Jan 14 2008, 19:41