Asking $ 39,900
Est. Repair $35,000 *
Est. Repaired Value $100,000 **
Potential Gross Profit >>>>$25,100<<<<
Here is another one for you to flip or rent. The property consists of 3 bedrooms and 1 bathroom. Property features, enclosed porch, central air conditioning and a large fenced backyard. Home can easily be rent ready with about $15k worth of work. Homes in the area rent for approximately $1,300 – $1,400. Taxes for this property are about $2,736. Below is a break down if you decided to rent it.
Gross Income – $15,600
Taxes – $2,736
Insurance – $800
5% Vacancy – $780
Net Income – $11,284
ROI 23.02% (Return on Investment includes acquisition + $15k worth of work)
COMPS:
(1) 836 W. 2nd St Sold for $70k on 02/10/17 (2bed 1bath 1,053 sqft)
(2) 827 W. 3rd St Sold for $85k on 07/05/17 (3bed 1bath 1,092 sqft)
(3) 200 Woodlawn Ave Sold for $80k on 07/14/17 (3bed 1bath 1,152 sqft)
(4) 1001 W. 5th St Sold for $140k on 10/27/17 (3bed 1bath 1,165 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 purchasing 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.