Asking $69,000
Est. Repair $50,000 *
Est. Repaired Value $160,000 **
Potential Gross Profit >>>>$41,000<<<<
Check out this new deal in Sussex, NJ for you to Fix and Flip or Fix and Rent. House is a single family ranch style home that features 3bedrooms 1bath and 1,260 Sqft of living space. House needs about $50k worth of work to Fix and Flip. You can also get this house rent ready with about $30k worth of work. Houses in the area rent for approximately $1,300 – $1,400 per month. Taxes are about $5,183 per year. Below is a break down if you decided to rent it.
Gross Income – $15,600
Taxes – $5,183
Insurance – $800
5% Vacancy – $780
Net Income – $8,837
ROI – 8.92% (Return on Investment includes acquisition + $30k worth of work)
Comp:
(1) 1 Mitchell Ave Sold for $160k on 09/19/17 (2bed 1bath 927 Sqft)
(2) 2 Hudson St Sold for $159k on 01/08/18 (2bed 1bath 1020 Sqft)
(3) 23 South St Sold for $160k on 10/06/17 (2bed 1bath 930 Sqft)
(4) 121 Main St Sold for $165k on 04/05/18 (2bed 1.5baths 842 Sqft)
(5) 23 Sterling St Sold for $174k on 08/20/18 (2bed 1.5baths 1,060 Sqft)
(6) 136 Buckwheat Rd Sold for $182k on 11/03/17 (3bed 2bath 1,580 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.