Asking $ 67,500
Est. Repair $50,000 *
Est. Repaired Value $165,000 **
Potential Gross Profit >>>>$47,500<<<<
INVESTOR ALERT. Here is a 5 bedrooms, 2 full baths, nice yard with shed and fencing. Roof and windows approx 10 years old. The bones on this home are good, needs full updating with the exception of newer boiler and water heater. Property will need about $25k to get rent ready and about $50k to fix and flip for big profits. Taxes are approximately $4,217 per year and homes in the area rent for about $1,650 – $1,750 per month. Below is a break down if you decided to rent it.
Gross Income – $19,800
Taxes – $4,217
Insurance – $700
5% Vacancy – $990
Net Income – $13,893
ROI – 15% (Return on Investment includes acquisition + $25k worth of work)
Comps:
(1) 1033 Monmouth Rd Sold for $145k on 08/29/17 (3bed 1bath 936 sqft)
(2) 1002 Hudson Ave Sold for $150k on 07/30/17 (3bed 1bath 936 sqft)
(3) 1021 Hudson Ave Sold for $162k on 08/25/17 (3bed 2bath 1,604 sqft)
(4) 1035 Sussex Ave Sold for $165k on 05/23/17 (3bed 1.5bath 1,362 sqft)
(5) 1214 Burlington Ave Sold for $165k on 05/30/17 (4bed 1.5bath 1,559 sqft)
(6) 1207 Monmouth Rd Sold for $170k on 11/03/17 (3bed 2bath 1,236 sqft)
(7) 1042 Sussex Ave Sold for $172k on 07/31/17 (3bed 1.5bath 1,362 sqft)
(8) 1030 Sussex Ave Sold for $180k on 12/06/17 (3bed 1.5bath 1,575 sqft)
(9) 194 Hunterdon Rd Sold for $193k on 08/23/17 (3bed 1.5bath 1,040 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