INVESTOR ALERT!
Wholesale deal in Waterford Works, NJ ready to be Flipped. House consists of 4 bedrooms 1 bath and 1,712 Sqft. The property comes with public sewer and private well which is in working condition. House sits on an oversized lot (lot is subdividable and buildable, please do your due diligence). Currently heated by oil tank which is above ground on the side of the house. There is gas hookups on the street so it can be converted. The home will need approximately $90k worth of rehab to flip or about $50k to get rent ready. Taxes for this property are about $6,406 per year and homes in this area rent for approximately $1,800 – $1,900 per month.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $21,600
Taxes – $6,406
Insurance – $1,000
5% Vacancy – $1,080
Net Income – $13,114
ROI – 14.57% (Return on Investment includes acquisition + $50k worth of work)
Note: Based on Comps below the average property sales for about $112 per Sqft
The subject property has about 1,712 Sqft. Plus an oversized lot that can be subdivided
$112 per Sqft x 1,712 Sqft = $192,600 Est. Value
Comps:
(1) 217 Sherman Ave Sold for $155k on 04/23/19
(3bed 1bath 1,026 Sqft Fully Renovated $150 per Sqft)
(2) 102 Washington Ave Sold for $175k on 07/19/19
(4bed 1.5baths 1,908 Sqft Outdated $91 per Sqft)
(3) 207 Cleveland Ave Sold for $181k on 09/19/19
(3bed 2.5baths 1,774 Sqft Fully Updated $102 per Sqft)
(4) 209 Sherman Ave Sold for $183k on 11/15/19
(3bed 2baths 2,086 Sqft Outdated $91 per Sqft)
(5) 105 Garfield Ave Sold for $184k on 12/17/19
(3bed 2baths 1,772 Sqft Fully Updated $104 per Sqft )
(6) 110 Center Ave Sold for $185k on 12/17/19
(3bed 1bath 1,316 Sqft Fully Renovated $140 per Sqft)
(7) 207 Freeman Ave Sold for $189k on 10/18/19
(4bed 2bath 1,580 Sqft Fully Renovated $119 per Sqft)
(8) 705 4th Ave Sold for $270k on 11/26/19
(4bed 2.5baths 2,612 Sqft Fully Renovated $103 per Sqft)
CALL OR TEXT JOHN JARAMILLO FOR MORE INFO AT 732-630-2627
IF YOU NEED FUNDING TO PURCHASE THIS PROPERTY OR ANY OF OUR PROPERTIES, PLEASE GIVE US A CALL AND WE CAN PUT YOU IN TOUCH WITH ONE OF OUR AFFILIATE LENDERS.
SERIOUS BUYERS ONLY PLEASE. Buyer must be purchased with cash, hard or private money, or line of credit and able to close within (10) days or less. 10% Non-Refundable deposit due within 48 hrs of acceptance. Property being sold “as is”, any and all inspections and certifications, including Certificate of Occupancy will be Buyer’s responsibility. Free and clear title, quick closing offered.
TO MAKE AN OFFER CALL John at 732-630-2627.
All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. The buyer is responsible at their sole cost and expense to obtain all required permits, approvals, and certificates, including but not limited to the certificate of occupancy and smoke detector certification.
*Estimate repairs are only an estimate, all buyers are encouraged to visit the property with the contractor and gather an estimate.
**After Repair Value is an estimate of what the property can be resold after repairs have been completed. All buyers should perform their own due diligence.