Asking $ 15,900
Est. Repair $55,000 *
Est. Repaired Value $113,000 **
Potential Gross Profit >>>>$42,100<<<<
Here is another excellent fixer upper that you can flip or hold for a monthly passive income. This home is bigger than it looks! Comes with 3 bedrooms, 1 bathroom and large backyard. Taxes for this property are about $3,688 per year, homes in the area rent for approximately $1,200 – $1,300 per month. Home will need approximately $30k to get rent ready.
Gross Income – $14,400
Taxes – $3,688
Insurance – $800
5% Vacancy – $720
Net Income – $9,192
ROI 20.00% (Return on Investment includes acquisition + $30k worth of work)
The Comps below average $98.25 per Sqft and are all within a mile.
COMPS:
616 Mantua Ave Sold for $95k on 11/09/17 (3bed 1bath 985 Sqft)
521 N. Delaware St Sold for $108k on 08/24/17 (2bed 1.5baths 1,176 Sqft)
1737 Overbrook Ave Sold for $110k on 08/04/17 (3bed 2baths 1,040 Sqft)
1232 Headdon Ave Sold for $125k on 06/26/17 (3bed 1bath 1,232 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.