Asking $55,000
Est. Repair $15,000 *
Est. Repaired Value $117,000 **
Potential Gross Profit >>>>$47,000<<<<
Easy quick Fix and Flip or if you love cashflow Fix it and Rent it. House comes with 2 bedrooms, 1 bathroom, rear deck and 1 car garage. Not much has to be done here, already has newer siding, newer roof, newer windows. House also has hardwood flooring throughout living room and bedrooms, full basement. House will need about $15k worth of work to Fix and Flip or about $10k if you plan on Fixing and Renting. Homes in the area rent for approximately $1,300 – $1,400 per month and taxes are about $3,322 per year. Below is a break down if you decided to rent it.
Gross Income – $15,600
Taxes – $3,322
Insurance – $800
5% Vacancy – $780
Net Income – $10,698
ROI – 16.45% (Return on Investment includes acquisition + $10k worth of work)
Comps:
(1) 126 Allens Ln Sold for $133k on 06/12/18 (2bed 2bath 1,286 Sqft)
(2) 51 Fostertown Ln Sold for $142k on 06/11/18 (3bed 1.5baths 1,336 Sqft)
(3) 125 Mullica Hill Rd Sold for $155k on 03/22/18 (3bed 1bath 1,453 Sqft)
(4) 323 Chickory Trl Sold for $157k on 06/22/18 (2bed 2bath 1,218 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.