Asking $170,000
Est. Repair $40,000 *
Est. Repaired Value $285,000 **
Potential Gross Profit >>>>$70,000<<<<
Easy Fix and Flip deal located in Medford, NJ. Home is a bi-level that comes with a really spacious layout and many updates including formal living room, dining room that overlooks updated kitchen. Main floor comes with 3 bedrooms and 1 full bath. Lower level provides study/4th bedroom, family room with fireplace and unfinished storage area. Rear screened in porch overlooks nice yard. Home will need about $40k worth of work to Fix and Flip, most of the work will be in the lower level, looks like it will need a french drain or new sub-pump but over all the home is in pretty good shape. Home can be also rent ready with about $10k. Taxes are about $6,476 per year and homes in the area rent for approximately $1,800 – $1,900 per month. Below is a break down if you decided to rent it.
Gross Income – $21,600
Taxes – $6,476
Insurance – $800
5% Vacancy – $1,080
Net Income – $13,244
ROI – 7.35% (Return on Investment includes acquisition + $10k worth of work)
Comps:
(1) 222 Taunton Blvd Sold for $261k on 08/01/18 (3bed 2.5 baths 1,688 Sqft)
(2) 220 Pine Blvd Sold for $270k on 09/25/17 (3bed 2.5 baths 1,755 Sqft)
(3) 208 Pine Blvd Sold for $280k on 01/19/18 (3bed 2bath 1,572 Sqft)
(4) 18 Pocahontas Trl Sold for $281k on 01/24/18 (3bed 2.5baths 1,952 Sqft)
(5) 12 Pine Blvd Sold for $285k on 06/08/18 (3bed 2baths 1,539 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.