Asking $54,000
Est. Repair $50,000 *
Est. Repaired Value $150,000 **
Potential Gross Profit>>>>$46,000<<<<
Spacious 1,840 Sqft Colonial with 3 bedroom, 1.5 baths, large Living room, dinning room and eat in kitchen. House has good bones with hardwood floors throughout and needs mostly cosmetic work. House needs approximately $50k worth of work to Flip or about $25k to get rent ready. Homes in the area rent for about $1,600 – $1,700 per month and taxes are $7,032 per year. Below is a break down if you decided to rent it.
Gross Income – $19,200
Taxes – $7,032
Insurance – $800
5% Vacancy – $960
Net Income – $10,408
ROI – 13.17% (Return on Investment includes acquisition + $25k worth of work)
Comps:
(1) 535 Buffalo Ave Sold for $165k on 06/13/18 (3bed 2bath 1,438 Sqft)
(2) 526 Buffalo Ave Sold for $167k on 06/19/18 (4bed 2bath 1,620 Sqft)
(3) 149 Liverpool Ave Sold for $165k on 01/17/18 (3bed 2bath 2,170 Sqft)
(4) 501 Boston Ave Sold for $152k on 09/18/18 (3bed 1bath 1,493 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.