HANDYMAN SPECIAL!!
Asking $79,995
Est. Repairs $40,000 *
Est. Repaired Value $180,000 **
Potential Gross Profit >>>>$60,000<<<<
Check out this amazing opportunity tucked away at the end of a dead-end street in a quiet culdesac. Here is a quick Flip or Rental opportunity, right on time for the Spring season. The property comes with 3 bedrooms, 2 bathrooms and 1,296 Sqft of living space. House needs some TLC. Features include newer siding, newer vinyl windows, a deck that wraps around the side of the house and inside it comes with newer laminated floors that complement a comfortable flow throughout the house. House will need about $30k to get rent ready or about $40k to flip for a nice profit. Taxes for this property are only about $3,259 per year and homes in the area rent for approximately $1,250 – $1,350 per month.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $15,600
Taxes – $3,259
Insurance – $800
5% Vacancy – $750
Net Income – $10,791
ROI – 9.81% (Return on Investment includes acquisition + $30k worth of work)
Note: Based on Comps below the average property sales for about $139 per Sqft
The subject property has about 1,296 Sqft.
$139 per Sqft x 1,296 Sqft = $180,403 Est. Value
Comps:
(1) 734 Embassy Ter Sold for $118k on 09/06/19
(2bed 1bath 864 Sqft Updated $136 per Sqft)
(2) 561 S. Main Rd Sold for $135k on 02/28/20
(3bed 1bath 984 Sqft Fully Renovated $137 per Sqft)
(3) 727 Yale Ter Sold for $135k on 06/10/19
(3bed 1bath 912 Sqft Fully Renovated $148 per Sqft)
(4) 724 S. Valley Ave Sold for $159k on 11/15/19
(3bed 1bath 1,098 Sqft Fully Renovated $145 per Sqft)
(5) 721 Embassy Ter Sold for $204k on 01/29/20
(3bed 2.5baths 1,576 Sqft Renovated $130 per 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.