Asking $ 54,995
Est. Repair $6,000 *
Est. Repaired Value $75,000 **
Potential Gross Profit >>>>$14,000<<<<
Here is another great rental for your portfolio. Home is currently a legal duplex with a 1 bedroom unit on the first floor and a 2 bedroom on the second floor. Both tenants are on a month to month lease. The first floor pays $745 per month and the second floor pays $800 per month. Note the current tenant on the second floor is being removed in the next two weeks. We estimated about $6k worth of TLC to get back to rent ready. The rents in the area go for about $850 – $950 per month for a two bedroom. Taxes for this property are approximately $1,894 per year.
Gross Income – $18,540
Taxes – $1,894
Insurance – $800
Flood Insurace – $1,000 (estimate)
5% Vacancy – $927
Net Income – $13,919
ROI 22.81% (Return on Investment includes acquisition + $6k worth of TLC)
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.