Asking $39,995
Est. Repair $60,000 *
Est. Repaired Value $160,000 **
Potential Gross Profit >>>>$60,000<<<<
INVESTOR ALERT!!!!
Check out this Classic Colonial that features a covered wrap around porch, 4 bedrooms, 2 baths and a total of 2028 Sqft of living space. You will find the master bedroom on the first floor with a wood burning stove, a walk-in cedar closet, and full bath. The second floor offers two bedrooms plus another master suite with a walk-in closet and full bath with claw foot tub. Walk up to the third-floor attic where you can convert into more living space or keep as storage. Home does need updating throughout but once done this can bring you a big return. House has oil heating baseboards (oil tank above ground) public water and public sewer. Gas service is connected to the property. Home will need approximately $60k worth of worth to flip or about $30k to get rent ready. A home like this can rent for about $1,200 – $1,300 per month, taxes are $6,103 per year. Below is a break down if you decided to keep it as a rental unit at a current market rate.
Gross Income – $14,400
Taxes – $6,103
Insurance – $800
5% Vacancy – $720
Net Income – $6,777
ROI – 9.68% (Return on Investment includes acquisition + $30k worth of work)
Comps:
(1) 107 Bullman St Sold for $135k on 12/22/17 DOM 24 (3bed 1.5baths 1,548 Sqft)
(2) 129 Bullman St Sold for $133k on 01/31/18 DOM 43 (3bed 1.5baths 1,800 Sqft)
(3) 65 Filmore St Sold for $150k on 10/26/18 DOM 18 (3bed 1.5baths 1,288 Sqft)
(4) 265 Morris St Sold for $148k on 01/26/18 DOM 30 (3bed 2bath 1,732 Sqft)
(5) 82 Summit Ave Sold for $136k on 01/26/18 DOM 50 (4bed 1.5baths 1,572 Sqft)
(6) 161 Hudson St Sold for $143k on 06/29/18 DOM 35 (3bed 1.5baths 1,352 Sqft)
(7) 119 Bullman St Sold for $145k on 11/09/18 DOM 152 (3bed 1.5baths 1,406 Sqft)
(8) 60 Lewis St Sold for $152k on 09/10/18 DOM 14 (3bed 1.5bath 1,053 Sqft)
(9) 119 Summit Ave Sold for $197k on 11/16/18 DOM 69 (4bed 2.5baths 2,133 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.