Asking $69,900
Est. Repair $60,000 *
Est. Repaired Value $190,000 **
Potential Gross Profit >>>>$60,000<<<<
Here is a 3-bedroom, 2 bathroom house with 1,584 Sqft of living space located in the North Side of Newark, NJ. House features insulated windows and full basement, property does need rehab but can be a great flip or rental. Will need approximately $60k to Fix and Flip or if you like the passive income then about $30k to get rent ready. Taxes are only $3,346 per year and homes rent for approximately $1,500 – $1,600 per month. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $3,346
Insurance – $800
5% Vacancy – $900
Net Income – $12,954
ROI – 12.95% (Return on Investment includes acquisition + $30k worth of work)
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.