Asking $49,900
Est. Repair $40,000 *
Est. Repaired Value $167,000 **
Potential Gross Profit >>>>$77,000<<<<
Calling all investors!!!! Checkout this bungalow that you can either Flip or Hold for a passive income. House located in prime area close to shopping centers and major highways. Home features 3bedrooms 1bath with 1,326 Sqft of living space. As per FEMA home is NOT in Flood Area. Home will need approximately $40k to flip or about $10k to get rent ready. Taxes are about $5,956 per year and homes rent for about $1,500 – $1600 per month. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $5,956
Insurance – $800
5% Vacancy – $900
Net Income – $10,344
ROI – 9.15% (Return on Investment includes acquisition + $10k worth of work)
Please take Note that based on the comps below properties sale for an average of $139 per Sqft and the Days on Market have an average of 32 days.
Comps:
(1) 301 E. Monroe Ave Sold for $126k on 09/26/18 DOM 53 (3bed 1bath 960 Sqft)
(2) 208 N. Warwick Rd Sold for $152k on 10/05/18 DOM 57 (3bed 1.5bath 1,130 Sqft)
(3) 313 E. Washington Ave Sold for $160k on 06/20/18 DOM 68 (4bed 1.5bath 1,188 Sqft)
(4) 126 N. King St Sold for $164k on 08/05/18 DOM 38 (3bed 1bath 1,016 Sqft)
(5) 204 E. Monroe Ave Sold for $165k on 03/23/18 DOM 9 (3bed 1bath 960 Sqft)
(6) 204 Stephen Pl Sold for $178k on 12/10/18 DOM 11 (3bed 1.5bath 1,560 Sqft)
(7) 305 E. Washington Ave Sold for $182k on 12/28/18 DOM 9 (4bed 2bath 1,636 Sqft)
(8) 203 Gloucester Ave Sold for $191k on 04/25/18 DOM 16 (3bed 2bath 1,176 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 purchased 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.