Asking $ 49,995
Est. Repair $55,000 *
Est. Repaired Value $155,000 **
Potential Gross Profit >>>>$50,000<<<<
Expanded Cape style home with an open first floor in need of updating throughout. Spacious living room leads into the dining area that opens up to the kitchen with gas cooking. Perfect deal to either fix and flip for a big profit or fix and rent for some passive income. Will need about $55k to flip and about $35k to get rent ready. Taxes for this property are about $3,742 per year and can be rented for about $1,300 – $1400 per month. Below is a break down if you decided to rent it.
Gross Income – $15,600
Taxes – $3,742
Insurance – $700
5% Vacancy – $780
Net Income – $10,378
ROI – 12.20% (Return on Investment includes acquisition + $35k worth of work)
COMPS:
(1) 344 Mantua Ave Sold for $155k on 07/17/17 (3bed 2bath 703 sqft)
(2) 579 N. Delaware St Sold for $152k on 01/18/18 (3bed 2bath 1540 sqft)
(3) 431 Billings Ave Sold for $164k on 04/03/17 (3bed 2bath 1456 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