Asking $55,000
Est. Repairs $40,000 *
Est. Repaired Value $135,000 **
Potential Gross Profit >>>>$40,000<<<<
FIXER UPPER ALERT❗️❗️❗️
Here is your next Flip or your next Rental unit for your portfolio. House comes with 3 bedrooms, 1bathroom and 987 Sqft of living space. Located in very quite street in Woodbine, NJ. House sits on a large 100×157 Lot, comes with public water and private septic. No information available about the condition of the septic, buyers please do own due-diligence. House needs about $40k worth of work to Flip (including changing/fixing the septic that may or may NOT need to be changed). You can also hold it as a rental, it will need approximately $12k to get rent ready. Taxes are only about $2,756 per year and a homes like this rent for about $1,200 – $1,300 per month.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $14,400
Taxes – $2,756
Insurance – $800
5% Vacancy – $720
Net Income – $10,124
ROI – 15.11% (Return on Investment includes acquisition + $12k worth of work)
Note: Based on Comps below the average property sales for about $135 per Sqft
The subject property has about 987 Sqft.
$135 per Sqft x 987 Sqft = $133,245 Est. Value
Comps:
(1) 526 Sold for $135k on 07/19/19
(3bed 1bath 1,156 Sqft Renovated $116 per Sqft)
(2) 10 Martintown Rd Sold for $137k on 10/25/19
(3bed 1baths 972 Sqft Fully Renovated $140 per Sqft)
(3) 717 Adams Ave Sold for $139k on 06/17/20
(2bed 2bath 1,051 Sqft Fully Renovated $132 per Sqft)
(4) 209 Adams Ave Sold for $147k on 07/26/19
(3bed 1baths 976 Sqft Fully Renovated $150 per Sqft)
(5) 734 Adams Ave Sold for $155k on 07/06/20
(3bed 2bath 1,132 Sqft Fully Renovated $136 per Sqft )
(6) 626 Grant Ave Sold for $176k on 05/27/20
(3bed 1bath 1,274 Sqft Renovated $138 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.