Investor Alert!!!!
Asking $125,000
Est. Repairs $40,000 *
Est. Repaired Value $235,000 **
Potential Gross Profit >>>>$70,000<<<<
Here is a 1,555 sqft single family home ready to be either flipped or rented for a great return. Property comes with 3 bedrooms, 1 bath and is located in a quiet street of Gloucester City. Will need about $40k to flip for a big chunk of profit, or get rent ready with approximately $15k and collect positive cashflow for years to come. Current taxes are approximately $4,053 per year (please verify) and a home like this can rent between $1,850 – $2,000 per month. Call right away and book your showing.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $22,200
Taxes – $4,053 (Please Verify)
Insurance – $900
5% Vacancy – $1,110
Net Income – $16,137
ROI – 11.52% (Return on Investment includes acquisition + $15k worth of work)
Note: Based on Comps below the average property sales for about $170 per Sqft
The subject property has about 1,555 Sqft.
$170 per Sqft x 1,555 Sqft = $265,213 Est. Value
Please note estimates are our opinion on value based on the data gathered.
Our conservative Est. Value is about $235k. Please perform your own due-diligence
Comps:
(1) 236 Warren St Sold for $228k on 03/29/24 DOM 9
(3bed 2 bath 1,040 Sqft Fully Renovated $219 per Sqft)
(2) 627 Market St Sold for $255k on 03/14/24 DOM 6
(5bed 1.5 bath 1,430 Sqft Fully Renovated $178 Per Sqft)
(3) 313 Morris St Sold for $215k on 02/16/24 DOM 6
(3bed 1.5 bath 1,440 Sqft Fully Renovated $149 per Sqft)
(4) 319 Middlesex St Sold for $237k on 03/27/24 DOM 59
(4bed 2 baths 1,520 Sqft Fully Renovated $155 per Sqft)
(5) 324 Morris St Sold for $244k on 02/14/24 DOM 20
(4bed 1.5 bath 1,536 Sqft Fully Renovated $158 per Sqft)
(6) 625 Market St Sold for $219k on 02/02/24 DOM 26
(4bed 1bath 1,464 Sqft Outdated No AC $149 per Sqft)
(7) 629 Market St Sold for $245k on 11/30/23 DOM 31
(5bed 1.5 baths 1,416 Fully Renovated NO AC Sqft $173 per Sqft)
(8) 338 Powell St Sold for $205k on 10/17/23 DOM 8
(3bed 1 baths 1,236 Outdated NO AC Sqft $165 per Sqft)
(9) 917 Somerset St Sold for $248k on 10/20/23 DOM 31
(3bed 1 baths 1,310 Outdated Sqft $189 per Sqft)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.