Fixer Upper Opportunity!!!!
Asking $154,995
Est. Repairs $35,000 *
Est. Repaired Value $235,000 **
Potential Gross Profit >>>>$45,000<<<<
Another great opportunity in Carneys Point NJ. This 3bed, 1bath home is ready to be updated and flipped for a great return. House will need about $35k worth of work to flip or if you choose on keeping it as rental it will only need approximately $5k to get rent ready. Homes like this rent between $1,450 – $1,550 and taxes for this property are $3,485 per year.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $17,400
Taxes – $3,514
Insurance – $900
5% Vacancy – $870
Net Income – $12,116
ROI – 7.5% (Return on Investment includes acquisition + $5k worth of work)
Please note estimates are our opinion on value based on the data gathered.
Please perform your own due-diligence
Comps:
(1) 241 E. St Sold for $220k on 07/31/24 DOM 12
(3bed 1 bath 1,006 Sqft Updated $218 per Sqft)
(2) 253 F. St Sold for $210k on 06/25/24 DOM 5
(3bed 1 bath 1,119 Sqft Fully Renovated $187 Per Sqft)
(3) 285 Jefferson St Sold for $200k on 06/10/24 DOM14
(3bed 1 bath 1,000 Sqft Updated $200 per Sqft)
(4) 247 G St Sold for $202k on 07/01/24 DOM 22
(3bed 1 baths 1,036 Sqft Updated $195 per Sqft)
(5) 323 Coolidge Ave Sold for $225k on 05/02/24 DOM 7
(3bed 1 bath 886 Sqft Fully Renovated $180 per Sqft)
(6) 325 Coolidge Sold for $200k on 05/03/24 DOM 9
(3bed 1bath 846 Sqft Updated $236 per Sqft)
(7) 246 F. St Sold for $215k on 03/15/24 DOM 7
(3bed 1bath 1,086 Sqft Fully Renovated $198 per Sqft)
(8) 358 Ives Ave Sold for $233k on 11/26/23
(3bed 1bath 1,144 Sqft Fully Renovated $204 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.