Asking $130,000
Est. Repair $80,000 *
Est. Repaired Value $300,000 **
Potential Gross Profit >>>>$90,000<<<<
Awesome deal in Haddon Heights for a seasoned investor/contractor. Here is a 3bed, 1bath Cape that needs updating throughout (approximately $80k to Fix and Flip) . Get the most out of this deal by adding a master bath and converting the 1 car garage into living space like a 4th bedroom or family room. You can also fix and rent if you like the cash flow, with about $50k you can get this rent ready. Homes in the area rent for about $1,400 – $1,600 per month and taxes are $7,163 per year. Below is a break down if you decided to rent it.
Gross Income – $16,800
Taxes – $7,163
Insurance – $800
5% Vacancy – $840
Net Income – $7,997
ROI – 4.44% (Return on Investment includes acquisition + $50k worth of work)
Comp:
(1) 1501 W. High St Sold for $280k on 09/05/18 (4bed 2bath 1,713 Sqft)
(2) 1025 W. Hight St Sold for $290k on 07/31/18 (3bed 1.5baths 1,468 Sqft)
(3) 1008 Sycamore St Sold for $295k on 05/31/18 (3bed 1bath 1,347 Sqft)
(4) 7 Thornolden Ave Sold for $305k on 06/29/18 (4bed 2bath 1,612 Sqft)
(5) 1544 Prospect Ridge Blvd Sold for $331k on 11/06/17 (3bed 2.5baths 1,695 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.