Asking $ 69,900
Est. Repair $55,000 *
Est. Repaired Value $180,000 **
Potential Gross Profit >>>>$55,100<<<<
This 4 bed, 2 bath is perfect to start out 2018! Home needs about $55k worth of work to flip and collect a profitable return. Can also be a great rental for your portfolio, needs about $25k worth of work to get rent ready. Taxes for this property are about $5,379 per year and rent for approximately $1,600 per month.
Gross Income – $19,200
Taxes – $5,379
Insurance – $800
5% Vacancy – $960
Net Income – $12,061
ROI 12.69% (Return on Investment includes acquisition + $25k worth of TLC)
NOTE: Based on the comps below, homes are selling in an average of $108 per sqft.
Subject property is 1,822 sqft x $108 per sqft = $196,776 Resale Value.
Comps:
(1) 52 Midvale Ln Sold for $177k on 09/12/17 (3bed 2bath 1,684 sqft)
(2) 180 Millbrook Dr Sold for $186k on 08/07/17 (3bed 2.5baths 1,727 sqft)
(3) 23 Mandolin Ln Sold for $179k on 08/25/17 (3bed 2bath 1,684 sqft)
(4) 19 Midvale Ln Sold for $180k on 7/17/17 (3bed 2bath 1,684 sqft)
(5) 45 Medford Ln Sold for $175k on 09/22/17 (4bed 2bath 1,372 sqft)
(6) 2 Mercator Ln Sold for $173k on 10/25/17 (3bed 1bath 1,722 sqft)
(7) 51 Medford Ln Sold for $203k on 12/20/17 (3bed 2.5baths 1,848 sqft)
(8) 52 Marboro Ln Sold for $190k on 12/22/17 (3bed 2.5baths 1,800 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.