Asking $ 49,995
Est. Repair $50,000 *
Est. Repaired Value $150,000 **
Potential Gross Profit >>>>$50,000<<<<
Flip this nice size house for a BIG profit or rent it out for passive income! House comes with 1,763 sqft of living space, 4 bedrooms, 2.5 baths, 1 car garage and a nice backyard. HUGE master bedroom features big walking in closet and it’s own full bathroom!! This house will need some TLC, but once completed you can make an EXCELLENT return on your money. It can also be rent ready with about $30k in updates. Taxes are about $5,211 for the year. Rental income is about $1,500 per month. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $5,211
Insurance – $800
5% Vacancy – $900
Net Income – $11,089
ROI – 13.86% (Return on Investment includes acquisition + $30k worth of work)
Comps:
(1) 220 Chalfonte Ave Sold for $130k on 11/08/17 (4bed 2bath 1728 sqft Townhouse)
(2) 2404 Shore Rd Sold for $180k on 11/21/17
(4bed 2bath 1,694 sqft)
(3) 137 N. Massachusetts Ave Sold for $167k on 08/01/17 (3bed 2bath 1,536 sqft)
(4) 743 Wabash Ave Sold for $235k on 06/09/17
(2bed 1bath 1,209 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