Two-Family Home (Multi-Family)
A two-family home is a residential property containing two separate dwelling units, typically with separate entrances, kitchens, and bathrooms. In Queens and Long Island, two-family homes are the most popular property type for buyers seeking both housing and rental income. The owner occupies one unit and rents the other, with rental income helping to offset the mortgage payment. Two-family homes in Ozone Park, Richmond Hill, and Jamaica typically range from $650,000 to $1,000,000.
Additional Details
FHA loans allow two-family purchases with just 3.5% down if you occupy one unit. Rental income from the second unit can be used to qualify for the mortgage (at 75% of fair market rent). Nitin Gadura specializes in two-family home purchases across Queens.
Need help with two-family home?
(917) 705-0132 — Nitin Gadura