Asking $ 39,995
Est. Repair $55,000 *
Est. Repaired Value $140,000 **
Potential Gross Profit >>>>$45,000<<<<
Nice size colonial house features 3 bedrooms, 2 baths, hardwood flooring and tile flooring on a corner lot. Located in one of the nicest neighborhood’s in town. Home needs rehab throughout including roof, floors, kitchen, mechanicals etc… But once finished you can flip it for a quick profit or rent it out for a monthly passive income. As per FEMA home is “NOT” in a flood area. However, there’s current water in the basement from sub pump not working. Home will need about $55k worth of work to flip and about $30k to get rent ready. Current taxes for the property are about $4,610 per year. Homes in the area are renting for approximately $1,300 – $1,400 per month. Below is a break down if you decided to rent it. Come see today for yourself and let’s make a deal.
Gross Income – $15,600
Taxes – $4,610
Insurance – $700
5% Vacancy – $780
Net Income – $9,510
ROI – 13.58% (Return on Investment includes acquisition + $30k worth of work)
COMPS:
(1) 432 Ives Ave Sold for $129k on 08/22/17 (3bed 1.1baths 1,200 sqft)
(2) 295 B St Sold for $132k on 05/30/17 (3bed 1bath 1,120 sqft)
(3) 365 Annabelle Ave Sold for $132k on 07/07/17 (4bed 2bath 1,512 sqft)
(4) 112 Snow Drop Ln Sold for $135k on 04/20/17 (3bed 1bath 1,184 sqft)
(5) 368 Ives Ave Sold for $139k on 3/23/18 (3bed 1bath 1036 sqft)
(6) 299 Garfield St Sold for $140k on 12/27/17 (3bed 1bath 1612 sqft)
(7) 20 Spring St Sold for $147k on 06/30/17 (3bed 2bath 1,230 sqft)
(8) 158 S. Dupont Rd Sold for $150k on 11/09/17 (3bed 1.5bath 1,792 sqft)
(9) 21 S. Cedarwood Ave sold for $157k on 3/31/17 (3bed 2bath 1,275 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 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 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