Investor Alert!!!!
Asking $209,000
Est. Repairs $50,000 *
Est. Repaired Value $345,000 **
Potential Gross Profit >>>>$86,000<<<<
Here is a 1,108 sqft single family home in need of updating. Property comes with 4 bedrooms, 1 bath, and 1,108 sqft of living space. Will need about $50k to flip for a big chunk of profit, or get rent ready with approximately $35k and collect positive cashflow for years to come. Current taxes are about $4,053 per year and a home like this can rent between $2,000 – $2,200 per month. Call right away and book your showing.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $24,000
Taxes – $4,053
Insurance – $900
5% Vacancy – $1,200
Net Income – $17,847
ROI – 7.31% (Return on Investment includes acquisition + $35k worth of work)
Note: Based on Comps below the average property sales for about $332 per Sqft
The subject property has about 1,108 Sqft.
$332 per Sqft x 1,108 Sqft = $367,856 Est. Value
Comps:
(1) 215 Bonnie Ave Sold for $280k on 06/01/23
(2bed 1 bath 720 Sqft Outdated $388 per Sqft)
(2) 515 Hobart Ave Sold for $295k on 08/25/23
(3bed 1 bath 967 Sqft Outdated $305 Per Sqft)
(3) 212 Joan Ter Sold for $310k on 06/27/23
(2bed 1 bath 672 Sqft Updated $461 per Sqft)
(4) 2548 Liberty St Sold for $328k on 03/23/23
(4bed 2 baths 1,372 Sqft Fully Renovated $239 per Sqft)
(5) 209 Kuser Rd Sold for $335k on 09/11/23
(4bed 1 bath 1,075 Sqft Updated $311 per Sqft)
(6) 119 Hollywood Dr Sold for $340k on 04/17/23
(4bed 1bath 1,374 Sqft Fully Renovated $247 per Sqft)
(7) 217 Atlantic Ave Sold for $380k on 01/017/23
(4bed 2.5 baths 1,008 Fully Renovated Sqft $376 per 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.