Full Rehab Needed!!!!
Asking $49,995
Est. Repairs $75,000 *
Est. Repaired Value $175,000 **
Potential Gross Profit >>>>$50,000<<<<
A great off-market deal in the Hartranft neighborhood of Philadelphia. Property comes with 3 beds, 1 bath and comes with 1,440 sqft of living space. House needs a full rehab but once finished it can be sold for an excellent return. You can also buy this one, make it rent ready with about $30k and rent it between $1,500 – $1,600 per month. Taxes are approximately $1,100 per year. This property is being sold AS-IS and is currently vacant.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $18,000
Taxes – $1,100
Insurance – $900
5% Vacancy – $900
Net Income – $15,100
ROI – 18.87% (Return on Investment includes acquisition + $30k worth of work)
Note: Based on Comps below the average property sales for about $132 per Sqft
The subject property has about 1,440 Sqft.
$132 per Sqft x 1,440 Sqft = $190,080 Est. Value
Our conservative Est. Value is about $175k
Please note estimates are our opinion on value based on the data gathered.
Please perform your own due-diligence
Comps:
(1) 2864 N. Leithgow St Sold for $115k on 07/08/24 DOM 9
(2bed 1 bath 980 Sqft Fully Renovated $117 per Sqft)
(2) 1126 W. Glenwood Ave Sold for $150k on 08/30/24 DOM 97
(3bed 1 bath 1,304 Sqft Updated $115 Per Sqft)
(3) 3138 N. 7th St Sold for $132k on 06/25/24 DOM 49
(4bed 1 bath 1,114 Sqft Outdated $119 per Sqft)
(4) 2436 N. Reese St Sold for $215k on 07/02/24 DOM 66
(4bed 2 baths 1,290 Sqft Fully Renovated $166 per Sqft)
(5) 906 W. Sterner St Sold for $194k on 04/04/24 DOM 37
(3bed 2 bath 1,026 Sqft Fully Renovated $180 per Sqft)
(6) 2827 N. Fairhill Sold for $160k on 05/06/24 DOM 203
(3bed 2baths 1,384 Sqft Updated $115 per Sqft)
(7)2545 N. 6th St Sold for $150k on 04/23/24 DOM 282
(3bed 1bath 1,305 Sqft Updated $115 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.