218 Cains Mill Rd Williamstown, New Jersey 08094 Sold

  • $39,995
  • 3 beds
  • 1 baths
  • 1.170 sqft

Asking $ 39,995

Est. Repair $60,000 *

Est. Repaired Value $140,000 **

Potential Gross Profit >>>>$40,000<<<<

Perfect project in desirable Collings Lake Community with walking distance to the lake.  This is a perfect project for you to make a quick return or keep as a rental for a long-term investment. Home needs rehab throughout but once done it will go quick.  The estimate includes changing the existing septic (note septic inspection has not been done).  Home will need about $30k worth of work to get rent ready.  Taxes for this property are $4,153 and properties in the area rent for approximately 1,300 – $1,400 per month.  Home also falls in a USDA Zone which means that when its ready to hit the market, your pool of retail buyers can probably qualify for 100% and not only FHA.
Gross Income – $15,600
Insurance – $800
5% Vacancy – $780
Taxes – $4,153
Net Income – 9,867
ROI 14.09% (Return on Investment includes acquistion + $30k worth of work)
COMPS:
508 Cushman Ave Sold for $149k on 03/02/17 (3bed 1bath 1050 sqft)
310 Sherwood Ave Sold for $120k on 08/25/17 (3bed 1bath 800 sqft)
209 Delwyn Ln Sold for $138k on 02/03/17 (3bed 1bath 1,200 sqft)
107 Carol St Sold for 142k on 11/21/17 (3bed 1 bath 1,200 sqft)
326 Woodlawn Ave Sold for $154k on 10/30/17 (3bed 1.5bath 1,422 sqft)
108 W. Colton Ln Sold for $155k on 08/31/17 (3bed 2bath 1422 sqft)
104 E. Colton Ln Sold for $160k on 11/27/17 (4bed 2bath 1,400 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.

 

 

Price:
$39,995
Address:
218 Cains Mill Rd
Williamstown, New Jersey 08094
Square Feet:
1.170
Lot Size:
0.26
Bedrooms:
3
Bathrooms:
1
Terms:
For Sale
Property Type:
Home
Year Built:
1965

Call 732-630-2627 for more details

Property Location