Click Here —–> Septic and Well Docs
Asking $ 49,995
Est. Repair $45,000 *
Est. Repaired Value $140,000 **
Potential Gross Profit >>>>$45,000<<<<
Here is a brand new deal in Beautiful Vernon, NJ. Located in the Highland Lakes community which offers 5 lakes, 7 beaches, clubhouse, picnic areas, ballfields, playground, tennis and more. Located just minutes from Mountain Creek water park, Hidden Valley Ski areas and Crystal Springs Golf Resort. This is an easy flip so don’t miss out on it. Home can also be a great year round rental or AirB&B seasonal rental. Needs about $20k to get rent ready. Taxes for this property are approximately $4,196 per year, HOA fees are about $1,260 per year. Homes in the area are renting for about $1,200 – $1,300 per month for a year around lease. AirB&B rentals go for about $90 – $130 per night. Below is a break down if you decided to rent it.
Gross Income – $14,400
Taxes – $4,196
Insurance – $700
5% Vacancy – $720
HOA – $1,260
Net Income – $7,524
ROI – 10.90% (Return on Investment includes acquisition + $20k worth of work)
Comps:
(1) 4 Spring St Sold for $119k on 06/12/17 (2bed 1bath 625 sqft)
(2) 124 Birch Rd Sold for $139k on 07/11/17 (2bed 1bath 944 sqft Not updated)
(3) 116 Birch Rd Sold for $130k on 07/24/17 (2bed 1bath 560 sqft)
(4) 1080 Lakeside Dr E. Sold for $135k on 09/28/17 (2bed 1bath 960 sqft Not updated)
(5) 113 Grandview Rd Sold for $136k on 03/24/17 (2bed 1bath 906 sqft Not updated)
(6) 152 Coon Den Rd Sold for $150k on 08/23/17 (2bed 1bath 792 sqft Not updated)
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