Asking $ 54,995
Est. Repair $70,000 *
Est. Repaired Value $200,000 **
Potential Gross Profit >>>>$75,000<<<<
Fix and Flip deal with great returns. This 3 bedroom 1.5 bath ranch is on a quiet wooded lot. Comes with an over-sized 2 car garage, large family room w/ a brick fireplace. Home is currently on private septic. No information available about the condition of the septic. However, the repair estimate provided includes a $15k budget for connecting the house to the public sewer. Home needs updating throughout but has great returns as a flip. Home will require flood insurance if you are getting a mortgage (please do your own due-diligence) Home can also work as a rental with about $25k worth of TLC. Homes in the area are renting for about $1,500 – $1,600 per month, taxes are $5,284 per year. Below is a break down if you decided to rent it.
Gross Income – $18,000
Taxes – $5,284
Insurance – $800
5% Vacancy – $900
Net Income – $11,016
ROI 11.71% (Return on Investment includes acquisition + $25k worth of TLC)
COMPS:
(1) 12 Wexford Rd Sold for $250k on 10/03/17
(3bed 2.1 baths 1,771 sqft fully renovated)
(2) 3 Edgehill Rd Sold for $171k on 09/29/17
(3bed 1.1 baths 1,890 sqft outdated)
(3) 26 Clementon Rd West Sold for $198k on 09/20/17
(3bed 1.1 baths 1,740 sqft outdated)
(4) 90 Winding Way Sold for $203k on 09/15/17
(3bed 2 baths 1,754 sqft outdated)
(5) 171 Clementon Rd Sold for $415k on 08/25/17
(4bed 3.1 baths 2,448 sqft outdated
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.