CHEKC OUT THIS OPPORTUNITY!!!
Asking $35,000
Est. Repairs $80,000 *
Est. Repaired Value $170,000 **
Potential Gross Profit >>>>$55,000<<<<
Here is a single family home in need of a full Rehab inside and out. House sits on a 0.24 Acre lot with 1,196 Sqft of living space. Currently has 2 bedrooms and 1 bath but can probably be converted into a 3 bedroom home. Please note that the rehab budget of $80k includes replacing the septic that may or may NOT need to be changed. For your safety and ours, only exterior showings are allowed. Due to the condition of the home inside. Property can be a great flip or rental once done. Taxes are approximately $4,547 per year and homes like these rent between $1,400 – $1,500 per month.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $16,800
Taxes – $4,547
Insurance – $800
5% Vacancy – $840
Net Income – $9,773
ROI – 8.21% (Return on Investment includes acquisition + $80k worth of work)
Comps:
(1) 18 Chestnut Dr Sold for $315k on 04/31/21 DOM 49
(4bed 3bath 2,370 Sqft Outdated, $132 per Sqft)
(2) 30 Auburn St Sold for $150k on 01/15/21 DOM 12
(3bed 1bath 1,114 Sqft Outdated $135 per Sqft)
(3) 34 Green St Sold for $179k on 04/02/21 DOM 86
(3bed 1baths 1,132 Sqft Outdated $158 per Sqft)
(4) 30 School Ln Sold for $225k on 12/07/20 DOM 13
(3bed 2bath 1,817 Sqft Renovated $124 per Sqft)
(5) 2 Kresswold Ln Sold for $205k on 01/28/21 DOM 90
(3bed 1.5 baths 1,615 Sqft Outdated $127 per Sqft)
(6) 21 Kresswold Ln Sold for $325k on 12/11/20 DOM 14
(4bed 2.5baths 2,202 Sqft Fully Renovated $147 per Sqft)
(7) 365 N. Main St Sold for $177k on 12/07/20 DOM 35
(2bed 1bath 1,288 Sqft Outdated $137 per Sqft )
All showings are subject to the states COVID-19 orders, recommendations, guidance, and all CDC and local health mandates and/or guidance regarding showings. Please practice social distancing and wear masks
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 purchased 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.