Asking $ 48,900
Est. Repair $50,000 *
Est. Repaired Value $140,000 **
Potential Gross Profit >>>>$41,100<<<<
Raised ranch in the heart of a lake community in Highland Lakes close to Mountain Creek Ski Resort and water parks. Come and check out this 3bed 1.5bath home that needs minor TLC to get rent ready or fix and flip it for a nice profit. House will need approximately $50k worth of work to flip for a nice profit (there’s no info about the septic, $20k included in the estimate for new septic). House can easily be rent ready with about $15k and can rent for about $1,500 – $1,600 year around or for about $2,200 per month as per AirB&B. Taxes for this property are approximately $4,759 per year and the yearly community association fee is $1,285.
Gross Income – $18,000
Taxes – $4,759
Insurance – $800
Association – $1,285
5% Vacancy – $900
Net Income – $10,256
ROI –16.00% (Return On Investment includes acquisition + $15k worth of TLC)
COMPS:
17 Kewaunee Rd Sold 04/03/17 for $120,000 (2bed 1bath 736 sqft)
5 Kewaunee Rd Sold 01/13/17 for $121,900 (2bed 1bath 887 sqft)
46 Lonaconing Rd Sold 10/17/17 for $121,900 (2bed 1bath 1034 sqft)
10 Anawa Rd Sold 03/22/17 for $125,000 (3bed 1bath 702 sqft)
116 Birch Rd Sold 07/24/17 for $130,000 (2bed 1bath 560 sqft)
137 Breakneck Rd Sold 09/13/17 for $137,400 (2bed 1bath 816 sqft)
604 Alturas Rd Sold 09/14/17 for $179,000 (2bed 1.5baths 800 sqft)
204 Aniwa Rd Sold 07/27/17 for $179,000 (3bed 2bath 1485 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.