Asking $55,000
Est. Repair $60,000 *
Est. Repaired Value $175,000 **
Potential Gross Profit >>>>$60,000<<<<
Here is a 3 bedroom, 1 bath, bi-level, eat-in kitchen with nice size backyard. Perfect deal for you to either Fix and Flip or Fix and Rent. House will need updating and repairs throughout, to fix and flip it will need about $60k. You can keep it as a rental as well, will need about $40k to get rent ready. Homes in the area rent for approximately $1,550 – $1,650 per month. Taxes are only $3,294 per year. Below is a break down if you decided to rent it.
Gross Income – $18,600
Taxes – $3,294
Insurance – $800
5% Vacancy – $930
Net Income – $13,576
ROI – 14.29% (Return on Investment includes acquisition + $40k worth of work)
Comp:
(1) 18 Hawthorne St Sold for $160k on 09/14/18 (4bed 2bath 1,320 Sqft)
(2) 29 Vine St Sold for $168k on 05/30/18 (3bed 1.5baths 1,536 Sqft)
(3) 2388 Range Rd Sold for $180k on 10/201/17 (3bed 2bath 1,584 Sqft)
(4) 318 Ridge Rd Sold for $180k on 01/19/18 (4bed 1.5baths 1,456 Sqft)
(5) 21 Wheeler Trl Sold for $187k on 07/23/18 (3bed 1bath 1,040 Sqft)
(6) 1503 N. Lakeshore Dr Sold for $193k on 10/26/17 (3bed 2bath 1,366 Sqft)
(7) 29 Begonia st Sold for $195k on 09/07/18 (4bed 2bath 1,722 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.