Asking $29,995
Est. Repair $55,000 *
Est. Repaired Value $125,000 **
Potential Gross Profit >>>>$40,000<<<<
Single level Ranch located on quiet st. Fix and Flip or use as rental either way you will make money. Home has termite damage that will need to be taken care of, estimate amount of $55k includes that fix. Home will need updating throughout as well. Will need approximately $25k to get rent ready. Homes in the area rent for approximately $1,200 – $1,300 per month and the taxes are only $3,994 per year. Below is a break down if you decided to rent it.
Gross Income – $14,400
Taxes – $3,994
Insurance – $800
5% Vacancy – $720
Net Income – $8,886
ROI – 16.15% (Return on Investment includes acquisition + $25k worth of work)
Comps:
(1) 7 Narcissus Rd Sold for $115k on 08/30/18 (3bed 1bath 1,056 Sqft)
(2) 21 Michigan Rd Sold for $150k on 05/01/18 (4bed 2bath 1,580 Sqft)
(3) 1 Michigan Rd Sold for $115k on 04/23/18 (3bed 1bath 1,167 Sqft)
(4) 23 Holly Dr Sold for $154k on 07/17/18 (3bed 1bath 1,156 Sqft)
(5) 15 Jefferson Rd Sold for $143k on 04/26/18 (3bed 1bath 1,212 Sqft)
(6) 41 Penn Beach Dr Sold for $155k on 05/21/18 (3bed 1.5bath 1,206 Sqft)
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.