Asking $49,900
Est. Repair $60,000 *
Est. Repaired Value $169,000 **
Potential Gross Profit >>>>$59,000<<<<
Great opportunity to rehab this nice size ranch located in Atco, NJ. Home sits back from road behind two other properties. There’s an easement on a driveway, please see pictures for clarification and location. House comes with 3 bedrooms, 2 full baths, eat-in kitchen, 2-car garage, full basement, deck and shed. Will need about $60k to fix and flip and about $40k to get rent ready both estimates include replacing septic that may or may NOT need to be replaced. Homes in area rent for approximately $1,500 – $1,600 per month and taxes are about $5,996 per year. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $5,996
Insurance – $800
5% Vacancy – $900
Net Income – $10,304
ROI – 11.44% (Return on Investment includes acquisition + $40k worth of work)
Comps:
(1) 7 Woodstream Ct sold for $140k on 04/27/18 DOM 63 (3bed 1.5baths 1,328 Sqft)
(2) 26 Windingvrook Dr Sold for $148k on 07/23/18 DOM 47 (2bed 1.5baths 1,048 Sqft)
(3) 195 Bartal Ct Sold for $154k on 08/30/18 DOM 35 (3bed 1.5baths 1,331 Sqft)
(4) 35 Windingbrook Dr Sold for $154k on 09/07/18 (2bed 1.5baths 1,328 Sqft)
(5) 3 Bayberry Ct Sold for $170k on 10/26/18 DOM 11 (3bed 1.5baths 1,360 Sqft)
(6) 40 Windingbrook Dr Sold for $170k on 08/24/18 DOM 8 (3bed 1.5baths 1,328 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 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.