Asking $9,900
Est. Repairs $35,000 *
Est. Repaired Value $55,000 ** (Not Really a Flip Deal)
Est. Rental Income $11,400 (Per Year)
Potential Net ROI >>>> 19.17% <<<<
INVESTOR ALERT!!! Looking for a cash buyer that can close in the next two weeks. Home needs a total rehab from top to bottom. Perfect deal for a Buy and Hold investor directly across from Trenton Water Works. Home will need about $35k. But with taxes of ONLY $1,400 per year, the ROI (return on investment) will be in the double digits. Homes in the area rent for approximately $950 – $1,050 per month. Below is a quick analysis if you wanted to buy and hold as a rental.
Gross Income – $11,400
Taxes – $1,400
Insurance – $800
5% Vacancy – $570
Net Income – $8,630
ROI – 19.17% (Return on Investment includes acquisition + $35k worth of work)
Comps:
(1) 41 Klagg Ave Sold for $30k on 07/02/18 (3bed 1bath 1,080 Sqft)
(2) 30 Klagg Ave Sold for $40k on 07/24/18 (3bed 1bath 1,630 Sqft)
(3) 323 Klagg Ave Sold for $37k on 01/13/19 (3bed 1bath 1,088 Sqft)
(4) 219 Mulberry St Sold for $66k on 07/22/18 (4bed 1bath 1,200 Sqft)
(5) 44 Mechanics Ave Sold for $45k on 01/31/18 (3bed 1bath 1,058 Sqft)
(6) 173 Sherman Ave Sold for $58k on 07/22/18 (3bed 1bath 1,252 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.