INVESTOR ALERT!!!
Asking $37,500
Est. Repairs $80,000 *
Est. Repaired Value $180,000 **
Potential Gross Profit >>>>$62,500<<<<
House consists of 4 bedrooms, 2 baths, about 1,856 Sqft of living space and a huge attic that can be converted into a Master Suite. Perfect deal for you to either FIX & FLIP or FIX & RENT for a passive income return. House will need approximately 80k worth of updating throughout. You can also get it rent ready with about $40k worth of work. A home with this much to offer can easily rent for about $1,400 – $1,500 per month. Taxes are approximately $3,871 per year.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $16,800
Taxes – $3,871
Insurance – $800
5% Vacancy – $840
Net Income – 11,289
ROI – 13.12% (Return on Investment includes acquisition + $40k worth of work)
Note: Based on Comps below the average property sales for about $105 per Sqft
The subject property has about 1,856 Sqft.
$105 per Sqft x 1,856 Sqft = $194,880 Est. Value
Comps:
(1) 478 Main St Sold for $125k on 07/31/20
(3bed 1bath 1,025 Sqft Updated $122 per Sqft)
(2) 103 Main St Sold for $139k on 08/07/20
(3bed 1bath 1,248 Sqft Updated $111 per Sqft)
(3) 151 Main St Sold for $166k on 11/23/20
(4bed 1.5baths 2,348 Sqft Outdated $70 per Sqft)
(4) 225 Co Op Dr Sold for $170k on 10/09/20
(34bed 2baths 1,700 Sqft Updated $100 per Sqft)
(5) 375 Sayres Neck Rd Sold for $186k on 03/20/20
(3bed 2baths 1,413 Sqft Fully Renovated $131 per Sqft)
(6) 131 Sheppard Davis Rd for $188k on 07/31/20
(4bed 2baths 1,908 Sqft Fully Renovated $98 per Sqft)
All showings are subject to the states COVID-19 orders, recommendations, guidance, and all CDC and local health mandates and/or guidance regarding showings. Please practice social distancing and wear masks
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.