Handyman Special!!!!
Asking $145,000
Est. Repairs $40,000 *
Est. Repaired Value $260,000 **
Potential Gross Profit >>>>$75,000<<<<
Looking for your next Fix and Flip deal or another Buy and Hold opportunity, well here it is. Property located in quiet street in Palmyra NJ ready to be brought back to live. Home comes with 1,008 sqft of living space which features 1 bathroom, 2 bedrooms and possibility to add a third bedroom. This single family home will need about $40k of work to flip for a good profit. You can also keep it as rental property and have it rent ready with about $25k worth of work. Current taxes are about $3,655 per year and a home like this can rent between $1,300 – $1,400 per month.
Below is a break down if you decided to keep it as a yearly rental.
Gross Income – $16,800
Taxes – $3,655
Insurance – $900
5% Vacancy – $840
Net Income – $11,405
ROI – 6.16% (Return on Investment includes acquisition + $25k worth of work)
Comps:
(1) 35 W. Front St Sold for $210k on 09/28/23 DOM 7
(3bed 1 bath 840 Sqft Renovated $250 per Sqft)
(2) 408 Delaware Ave Sold for $300k on 09/08/23 DOM 11
(4bed 2baths 1,523 Sqft Updated $197 per Sqft)
(3) 711 Pennsylvania Ave Sold for $305k on 09/08/23 DOM 19
(3bed 2 baths 1,248 Sqft Updated $245 per Sqft)
(4) 137 Maryland Ave Sold for $295k on 08/24/23 DOM 7
(4bed 2bath 1,080 Sqft Renovated $273 per Sqft)
(5) 509 Kennedy St Sold for $332k on 07/17/23 DOM 16
(4bed 2 baths 1,344 Sqft Renovated $247 per Sqft )
(6) 306 W. Henry St Sold for $250k on 07/14/23 DOM 14
(3bed 1bath 1,068 Sqft Outdated $234 per Sqft)
(7) 309 Cinnaminson Ave Sold for $280k on 06/29/23 DOM 11
(2bed 1baths 928 Sqft Fully Renovated $301 per Sqft)
(8) 1203 Louis St Sold for $300k on 05/26/23 DOM 7
(2bed 1 bath 1,044 Sqft Fully Renovated $287 per Sqft)
(9) 906 Hubbs Dr Sold for $240k on 04/25/23 DOM 166
(3bed 1 bath 1,068 Sqft Outdated $224 per Sqft)
(10) 209 Horace Ave Sold for $250k on 08/25/23 DOM 221
(2bed 1 bath 1,088 Sqft Outdated $229 per Sqft)
(11) 403 W. Broad St Sold for $315k on 05/02/23 DOM 79
(3bed 2.5 baths 1,440 Sqft Fully Renovated $218 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.