Asking $39,995
Est. Repair $45,000 *
Est. Repaired Value $135,000 **
Potential Gross Profit >>> $50,000 <<<
Nice house in quiet street located in desirable Pine Hill! House features an open living room with cathedral ceiling. House currently comes with 2 bedrooms and a full bath finish off the first floor, it also has a finished walk up attic that leads to the 3rd bedroom. There’s an extra room added next to the attached one-car garage. This room can be finished for a possible playroom, office, den, or even a 4th bedroom. Back deck overlooks a large backyard featuring a privacy fence! Conveniently located to major roadways for commuters and local shops, restaurants, golf clubs, parks, schools, and more! Taxes for this property are $6,197 per year and with about $25k worth of work it can be rented for about $1,300 – $1,400 per month.
Gross Income $15,600
Taxes $6,197
5% Vacancy $780
Insurance $800
Net Income $7,823
ROI 12.03% (this includes $25k worth of work + acquisition)
COMPS:
Note: Comps below are all 3 bedrooms, subject property has an extra room that can be turned into a 4th bedroom.
48 E. 5th Ave Sold for $115k – 01/03/17 (1 Bath more, 207 Sqft more, Out Dated)
88 E. 6th St Sold for $120k – 06/29/16 (1 Bath more, 236 Sqft less)
126 E.Branch Ave Sold for $130k – 03/16/16 (116 Sqft less)
18 W. Woodburn Ave Sold for $130k – 05/13/17 (115 Sqft more, 1/2 Bath more , No Garage)
9 E. 6th Ave Sold for $139k – 04/15/17 (164 Sqft less, No Garage)
10 E. 4th Ave Sold for $140k – 06/01/16 (1.5 Baths more, 180 Sqft more, No Garage)
80 Grove St West Deptford Sold for $145k – 08/01/16 (398 Sqft more)
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 Jaramillo 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 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.