One level Ranch located in Lake Neepaulin community. Features 3 bedrooms and 1 bath, has a room that can be split into 2 bedrooms making it a 4 bedroom house. Property needs about $40k worth of updating like new kitchen, bathroom, roof, floors and paint. No active leaks but roof might need to be patched up or replaced. Comes with newer water heater and oil burning furnace, oil tank above ground. Currently on private well and sewer, property assessment value is $164,500 with taxes of only $4,400. House is also eligible for USDA lending which means you can sale to buyers that in some cases can qualify for 100% financing. This just makes your buyers pool even bigger not just limited to Conventional or FHA buyers. Needs about $40k to flip or about $12k to get rent ready. House can rent for about $1,200 – $1,300 per month
Gross income $14,400
Taxes $4,400
Insurance $700
5% Vacancy $720
NOI $8,580
ROI 13.83% (including $12k to get rent ready)
Comps:
31 Union Rd Sold for $121k on 04/18/16
(315 Sqft less 0.12 Acres less)
73 Alder Ter Sold for $139,900 on 07/22/16
(1 bed less 517 Sqft less 0.19 Acres less)
210 Lower Unionville Rd Sold for $170k on 04/28/16
(275 Sqft less 1..84 Acres more)
15 Locust Rd Sold for $205k on 03/28/16
(1 bath more 208 sqft less 0.23 Acres more)
CALL OR TEXT JOHN JARAMILLO FOR MORE INFO AT 908-759-3161
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 908-759-3161. 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.