Asking $ 15,995
Est. Repair $50,000 *
Est. Repaired Value $100,000 **
Potential Gross Profit >>>>$34,000<<<<
Here is a great investment in an upcoming city that can bring you great profits for years to come. Home needs rehab throughout and the price reflects it, but once done it can be a great flip or even better rental for your portfolio. House comes with 3 beds 1 bath on 1,152 sqft of living space. Home will need approximately $25k to get rent ready. Taxes for this property are about $5,600 (can possibly be appealed). Homes in the area are renting for about $1,100 – $1,200 per month. Below is a break down if you decided to rent it.
Gross Income – $13,200
Taxes – $5,600 (can possibly be appealed)
Insurance – $700
5% Vacancy – $660
Net Income – $6,240
ROI – 13.86% (Return on Investment includes acquisition + $35k worth of work)
Comps:
(1) 309 Beach Ave Sold for $119k on 09/07/17 (2bed 1.1baths 1200 sqft)
(2) 28 Clipper Ct Sold for $123k on 08/07/17 (3bed 2.5baths 1258 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.