Asking $10,000
Est. Repair $45,000 *
Est. Repaired Value $65,000 ** (Not Really a Flip Deal)
Est. Rental Income $13,200 (Per Year)
Potential Net ROI >>>> 18.43% <<<<<
Here’s a rare chance to pick up a property in the desirable “Chambersburg Section” of Trenton for a low cost. A perfect deal for those Buy and Hold investors that are looking for passive income. House has some spilled fire damage caused by the home next door. This home is a total gut and will need a total rehab of about $45k. But with taxes of ONLY $1,600 per year, the ROI (return on investment) will be in the double digits. Homes in the area rent for approximately $1,100 – $1,200 per month. Below is a break down of the numbers as a Rental investment.
Gross Income – $13,200
Taxes – $1,600
Insurance – $800
5% Vacancy – $660
Net Income – $10,140
ROI – 18.43% (Return on Investment includes acquisition + $45k worth of work)
Comps:
(1) 492 Genesee St Sold for $51k on 05/10/18 DOM 20 (3bed 1bath 942 Sqft)
(2) 462 Genesee St Sold for $55k on 03/30/18 DOM 7 (3bed 1bath 1,329 Sqft)
(3) 81 Grand St Sold for $60k on 04/20/18 DOM 92 (3bed 1.5baths 1,720 Sqft)
(4) 124 Hancock St Sold for $60k on 10/13/18 DOM 53 (5bed 2bath 1,152 Sqft)
(5) 1003 Chestnut Ave Sold for $65k on 10/05/18 DOM 14 (2bed 1.5baths 1,517 Sqft)
(6) 106 Genesee St Sold for $74k on 05/11/18 DOM 189 (3bed 1.5baths 1,084 Sqft)
(7) 135 Fulton St Sold for $75k on 06/22/18 DOM 162 (4bed 1bath 1,398 Sqft)
(8) 348 Adeline St Sold for $75k on 08/24/18 DOM 17 (3bed 1.5baths 1,416 Sqft)
(9) 1304 Chestnut Ave Sold for $75k on 10/19/18 DOM 6 (4bed 1bath 1,467 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.