Asking $38,995
Est. Repairs $55,000 *
Est. Repaired Value $155,000 **
Potential Gross Profit >>>>$61,000<<<<
INVESTOR ALERT!!!
Here is your next Fix & Flip or Fix & Hold deal, either way it’s a moneymaker!!!. Located in Moroe Township school district, this rancher features 3bedrooms, 1bath, 1,556 sqft of living space on over a quarter of an Acre. House was built in 1970 and will need about $55k worth of updating throughout, but once done this property can bring you about $50k in gross profit.
With property taxes being only about $4,427 per year, another option would be to add this property to your rental portfolio and enjoy great passive income for years to come. House would need about $25k worth of work to get rent ready and can rent for approximately $1,400 – $1500 per month. Below is a break down if you decided to keep it as a rental unit.
Gross Income – $16,800
Taxes – $4,427
Insurance – $800
5% Vacancy – $840
Net Income – $10,733
ROI – 16.77% (Return on Investment includes acquisition + $25k worth of work)
Note: Based on Comps below the average property sales for about $135 per Sqft
The subject property has about 1,556 Sqft. $135 per Sqft x 1556 Sqft = $210,060 Est. Value
Comps:
(1) 33 Battles Rd Sold for $135k on 10/15/18
(3bed 1bath 898 Sqft Outdated $150 per Sqft)
(2) 354 Huber Ave Sold for $137k on 07/19/19
(2bed 1.5baths 1,344 Sqft Outdated $101 per Sqft)
(3) 11 Theresa Ln Sold for $138k on 09/07/18
(3bed 1bath 898 Sqft Renovated $153 per Sqft)
(4) 745 E. Malaga Rd Sold for $140k on 04/04/19
(3bed 1bath 1,212 Sqft Renovated $115 per Sqft)
(5) 1533 Winslow Rd Sold for $157k on 08/28/18
(3bed 2bath 1,200 Sqft Renovated $130 per Sqft )
(6) 1775 Winslow Rd Sold for $159k on 02/28/19
(3bed 2bath 1,248 Sqft Renovated $127 per Sqft)
(7) 2381 Winslow Rd Sold for $166k on 02/22/19
(3bed 1bath 1,008 Sqft Renovated $164 per Sqft)
(8) 354 E. Malaga Rd Sold for $167k on 05/01/19
(2bed 1bath 1,076 Sqft Renovated $155 per Sqft)
(9) 34 Battles Rd Sold for $185k on 01/19/19
(4bed 2bath 1,468 Sqft Updated $126 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.