Asking $49,995
Est. Repair $45,000 *
Est. Repaired Value $135,000 **
Potential Gross Profit >>>>$40,000<<<<
Check out this deal, located in wonderful Somerdale NJ. The home comes with a good size living room/dining area and kitchen. It has 3 bedrooms, 1 bath and a possible 4th bedroom. Nice size shed and deck in backyard with fencing all around. Home will need about $45k (Fix and Flip) this includes adding the 4th bedroom. House can also be a great rental with about $30k worth of work (Fix and Rent). Homes in the area are renting for approximately $1,500 – $1,600 and taxes are $4,638 per year. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $4,638
Insurance – $800
5% Vacancy – $900
Net Income – $11,662
ROI – 14.57% (Return on Investment includes acquisition + $30k worth of work)
Comps:
(1) 608 W. Somerdale Rd Sold for $113k on 07/11/18 (3bed 1.5baths 1,228 Sqft)
(2) 59 Minnetonka Rd Sold for $130k on 10/27/18 (3bed 1bath 1,350 Sqft)
(3) 320 Garden Ave Sold for $140k on 04/30/18 (3bed 1.5baths 1,194 Sqft)
(4) 304 Garden Ave Sold for $140k on 07/18/18 (2bed 2bath 1,044 Sqft)
(5) 608 Sylvan Rd Sold for $142k on 12/15/17 (3bed 1bath 1,023 Sqft)
(6) 602 W. Somerdale Sold for $144k on 01/18/18 (3bed 2bath 1,699 Sqft)
(7) 202 Garden Ave Sold for $150k on 03/09/18 (4bed 2bath 972 Sqft)
(8) 7 W. Maiden Ln Sold for $152k on 06/12/18 (3bed 1.5baths 1,150 Sqft)
(9) 603 Catalina Ct Sold for $160k on 12/15/17 (3bed 1bath 1,036 Sqft)
(10) 33 Ferndale Rd Sold for $169k on 07/13/18 (3bed 1.5bath 1,219 Sqft)
(11) 110 Terrance Ave Sold for $245k on 06/11/18 (4bed 2bath 1,584 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.