Asking $97,900
Est. Repair $40,000 *
Est. Repaired Value $195,000 **
Potential Gross Profit>>>>$57,000<<<<
INVESTOR ALERT!!
Large 4 bedroom, 1 bath Cape on extra large lot. House comes with an unfinished basement, public sewer and well water. Public water service in the area available. House does need updating and work throughout. Will need about $40k worth of work to Flip or about $30k to get Rent Ready. Homes in the area rent for approximately for $2,200 – $2,300 per month and taxes are $6,183 per year. Below is a break down if you decided to rent it.
Gross Income – $26,400
Taxes – $6,183
Insurance – $800
5% Vacancy – $1,320
Net Income – $18,097
ROI – 14.13% (Return on Investment includes acquisition + $30k worth of work)
Comps:
(1) 519 Sutherland Rd Sold for $187k on 06/22/18 (3bed 1.5baths 1,392 Sqft)
(2) 95 Ridgewood Ave Sold for $190k on 07/23/18 (4bed 2baths 1,344 Sqft)
(3) 14 Glen Mawr Dr Sold for $196k on 10/30/17 (3bed 1.5baths 1,232 Sqft)
(4) 6 Glen Clair Dr Sold for $213k on 12/09/17 (4bed 2.5baths 1,588 Sqft)
(5) 938 Terrace Blvd Sold for $235k on 05/131/8 (3bed 1bath 1,736 Sqft)
(6) 27 Carolina Ave sold for $240k on 05/23/18 (4bed 2bath 1,610 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.