Asking $39,995
Est. Repair $30,000 *
Est. Repaired Value $125,000 **
Potential Gross Profit >>> $55,000 <<<
Don’t miss the opportunity to flip or buy and hold this small ranch in the Glenwood Lake community of Vernon, NJ. This ranch offers 2 bedroom 1 full bath , Central forced air (propane gas), Fire Place ,Hardwood flooring, Nice kitchen with large center Island, sky lights overlooking the kitchen and Large enclose porch with a seasonal view of the lake. House needs minor TLC work to be flipped or rented for a passive income. As per town septic was replace in 2001 documents available. Taxes for this property are only $4,700 per year and has an assessment value of $178,600. House is located in Vernon school district, with about $15k worth of work it can rent for about $1,200 – $1,300 per month. Rent scenario below.
Gross Income – $14,400
Taxes – $4,700
5% Vacancy – $720
Insurance – $800
Net Income – $8,180
ROI – 12.58% (This return includes $15k worth of rehab)
Comps:
4 N. Clubhouse Sq Sold for $110k on 08/02/16
969 State Rt 517 Sold for $120k on 11/11/16
6 Woodland Way Sold for $150k on 08/26/16
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 Jaramillo 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 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.