Asking 29,000
Est. Repair $35,000 *
Est. Repaired Value $95,000 **
Potential Gross Profit >>>>31,000<<<<
Charming house located in Pennsville NJ that sits on a 0.55 Acre Lot. Featuring 2 beds 1 bath, huge yard, with extra room for storage in the over-sized shed. House offers an open kitchen area, enclosed front porch and off street parking. House will need work but it can be a great Flip or Rental. Home can be rent ready with about $20k worth of work and can rent for approximately $1,000 – $1,100 per month. Taxes are only $3,710 per year. Below is a break down if you decided to rent it.
Gross Income – $12,000
Taxes – $3,710
Insurance – $800
5% Vacancy – $600
Net Income – $6,890
ROI – 14.06% (Return on Investment includes acquisition + $20k worth of work)
Comps:
(1) 7 Beech Dr Sold for $110k on 11/30/17 (2bed 1bath 1,035 Sqft 0.23 Acres)
(2) 25 Elizabeth Dr Sold for $117k on (2bed 1bath 837 Sqft 0.11 Acres)
(3) 67 5th St Sold for $119k on 10/24/17 (3bed 1bath 1,370 Sqft 0.11 Acres)
(4) 14 Castle Dr Sold for $122k on 05/24/18 (2bed 1bath 820 Sqft 0.16 Acres)
(5) 53 Salem Dr Sold for $137k on 03/16/18 (3bed 2bath 1,100 Sqft 0.23 Acres)
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.
