Asking $32,995
Est. Repair $35,000 *
Est. Repaired Value $95,000 **
Potential Gross Profit >>>>$27,000<<<<
Great value for an investor looking to turn a piece of coal into a diamond! This property features two bedrooms and 1. 5 baths.The house is located on a quiet street, only about 3 minutes to Route 295.This location is great for commuting! On the second level, there are walkup steps to a massive unfinished attic. This space could add tremendous value as a loft or an office. House does need approximately $20k worth of work to be in move-in condition. It can be a quick flip or good rental for years to come. Rental income can be approximately $1,200- $1,300 per month. The current taxes for this property are $3,331 per year.
Gross rent income – $14,400
5% Vacancy – $720
Insurance – $800
Taxes – $3,330
Net rent income – $9,550
ROI – 18.00% (WOW! This ROI includes acquisition + $20k worth of work)
COMPS:
334 Tillman St Sold for $90k on 08/03/17 (1 bed less 720 sqft less)
135 Pear St Sold for $129k on 05/31/17 (.5 bath more 280 sqft more)
130 Gloucester Ave Sold for $133k on 07/21/17 (.5 bath more 81 sqft more)
124 E. Oak Ave Sold for $154k on 02/28/17 ( bed more, .5 bath more 48 sqft more)
115 Robert Kennedy Rd Sold for $167k on 06/29/17 (1 bed more, 1 bath more, 48 sqft more)
255 John F. Kennedy Blvd Sold for $198k on 05/30/17 (1 bed more, 1 bath more, 783 sqft more)
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 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.