Asking $45,000
Est. Repair $50,000 *
Est. Repaired Value $155,000 **
Potential Gross Profit >>> $60,000 <<<
Semi Detached single family house in Newark, NJ. Home features 3 large sized bedrooms, 2 1/5 bathrooms and one car garage. Two of the bedrooms have a sharing walkout balcony, while the master bedroom has a walk-in closet and private bathroom. Looks like their was a house next door that burned down and melted the siding, no signs of actual fire damage on this one. Home needs repairs throughout but once finished it can be flipped or rented for a nice profit. Will need about $50k worth of work to flip or about $30k to get rent ready. House can rent for about $1,200 – $1,300 per month (specially with section 8), taxes are only $4,000 per year.
Gross Income $14,400
Taxes $4,000 (estimate)
5% Vacancy $720
Insurance $800
Net Income $8,880
ROI 11.84% (this includes $30k worth of work + acquisition)
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 Jaramillo 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.