Asking $269,000
Est. Repair $50,000 *
Est. Repaired Value $365,000 **
Potential Gross Profit >>>>$46,000<<<
INVESTOR ALERT!!!
Check out this deal located in desirable Metuchen, NJ (Note home might have a Woodbridge mailing address but falls in Metuchen). House comes with 5bedrooms, 2baths, 1 car garage and 1,348 Sqft of living space. House will need updating throughout but once done this deal will home go quick. Taxes for this property are $4,539 per year. Can also be a good rental with about $30k worth of work, homes in the area rent for approximately $2,400 – $2,500 per month. Below is a break down if you decided to rent it.
Gross Income – $28,800
Taxes – $4,539
Insurance – $800
5% Vacancy – $1,440
Net Income – $22,021
ROI – 7.36% (Return on Investment includes acquisition + $30k worth of work)
Comps:
(1) 50 Mercer St Sold for $340k on 09/20/18 DOM 37 (4bed 2bath 1,085 Sqft)
(2) 93 Ethel St Sold for $340k on 12/28/18 DOM 35 (4bed 2.5baths 1,480 Sqft)
(3) 57 Ethel St Sold for $325k on 01/04/19 DOM 59 (4bed 2.1baths 1,282 Sqft)
(4) 86 Maryknoll Rd Sold for $348k on 01/24/19 DOM 344 (4bed 2bath 1,085 Sqft)
(5) 75 Tracy Dr Sold for $366k on 01/29/19 DOM 63 (4bed 2bath 1,560 Sqft)
(6) 46 Jackson Ct Sold for $365k on 08/10/18 DOM 14 (4bed 2bath 1,198 Sqft)
(7) 39 Federal St Sold for $350k on 07/16/18 DOM 36 (4bed 2bath 1,480 Sqft)
(8) 18 Marie Rd Sold for $400k on 10/12/18 DOM 31 (5bed 3bath 1,142 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 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.