Asking $52,995
Est. Repairs $55,000 *
Est. Repaired Value $155,000 **
Potential Gross Profit >>>>$47,000<<<<
Calling all Investors!!!
Check out this deal located in quiet stree perfect to either Flip or Hold as a rental property. This property features 3 bedrooms, 1 bath a huge 2 car garage and about 1,436 Sqft of living space. Will need approximately $55k worth of work to Flip or approximately $35k to get rent ready. Homes like this one rent for about $1,250 – $1,350 per month. Taxes for this property are approximately $6,460 per year.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $15,000
Taxes – $6,460
Insurance – $800
5% Vacancy – $750
Net Income – $6,990
ROI – 7.94% (Return on Investment includes acquisition + $35k worth of work)
Note: Based on Comps below the average property sales for about $112 per Sqft
The subject property has about 1,436 Sqft. $112 per Sqft x 1,436 Sqft = $160,832 Est. Value
Comps:
(1) 53 Princeton Rd Sold for $121k on 03/04/19
(2bed 1bath 936 Sqft Updated $129 per Sqft DOM 36)
(2) 158 Salem Dr Sold for $123k on 10/28/19
(3bed 1bath 1,392 Sqft Fully Renovated $88 per Sqft DOM 53)
(3) 14 Oberlin Rd Sold for $126k on 09/27/19
(3bed 2bath 1,232 Sqft Updated $102 per Sqft DOM 321)
(4) 10 Sanford Rd Sold for $135k on 05/29/19
(3bed 1bath 1,188 Sqft Updated $113 per Sqft DOM 182)
(5) 197 Lincoln Dr Sold for $138k on 09/27/19
(3bed 1bath 1,300 Sqft Updated $106 per Sqft DOM 172)
(6) 147 S. Washinton Dr Sold for $140k on 12/02/19
(3bed 1bath 1,045 Sqft Fully Renovated $133 per Sqft DOM 57)
(7) 56 Rutgers Rd Sold for $140k on 06/21/19
(3bed 1bath 1,188 Sqft Updated $117 per Sqft DOM 1)
(8) 154 Delaware Dr Sold for $146k on 11/25/19
(3bed 1bath 1,226 Sqft Fully Renovated $119 per Sqft DOM 149)
(9) 166 Lincoln Dr Sold for $150k on 05/10/19
(3bed 2bath 1,296 Sqft Fully Renovated $115 per Sqft)
(10) 26 Jefferson Rd Sold for $150k on 03/18/19
(3bed 2baths 1,320 Sqft Fully Renovated $113 per Sqft DOM 6)
(11) 14 Jasmine Pl Sold for $160k on 09/30/19
(3bed 2bath 1,532 Sqft Fully Renovated $104 per Sqft DOM 45)
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.