Fix and Flip Opportunity!!!!
Asking $65,995
Est. Repairs $40,000 *
Est. Repaired Value $155,000 **
Potential Gross Profit >>>>$49,000<<<<
Clean canvas ready to be transformed into your masterpiece. House is down to the studs with new electrical wires already ran throughout. House located in quiet street, featuring 2 bedroom 1 bath approximately 780 Sqft of living space on a 0.25 Acre Lot. House will need about $40k worth of work to flip or get rent ready. Homes in the area rent between $1,300 – $1,500 per month, current taxes are only $690 per year. Take note that taxes will probably go up once home has been rehabbed.
Please note estimates are our opinion on value based on the data gathered.
Gross Income – $15,600
Taxes – $2,500 (estimate based on Comp taxes)
Insurance – $900
5% Vacancy – $780
Net Income – $11,420
ROI – 10.85% (Return on Investment includes acquisition + $40k worth of work)
Comps:
(1) 63 S. Burlington Rd Sold for $110k on 10/24/23 DOM 15
(2bed 1bath 921 Sqft Outdated in need of work)
(2) 454 Coral Ave Sold for $153k on 10/03/23 DOM 14
(2bed 1bath 1,166 Sqft Outdated)
(3) 90 S. East Ave Sold for $160k on 07/17/23 DOM 44
(2bed 1 bath 912 Sqft Updated)
(4) 455 Spruce St Sold for $166k on 09/06/23 DOM 61
(3bed 1bath 922 Sqft Updated)
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.