Fix and Flip Opportunity!!!!
Asking $175,000
Est. Repairs $80,000 *
Est. Repaired Value $340,000 **
Potential Gross Profit >>>>$85,000<<<<
Looking for you next deal, well check this one out. Property is a single family home with 4bed, 1bath and 1,712 sqft of living space. Flip this one with approximately $80k worth of work for a nice chunk of profit. Can also be a great rental for your portfolio. Get it rent ready with about $35k worth of work. A house like this can rent between $1,800 – $1,900 per month. Current taxes are approximately $5,798 per year.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $21,600
Taxes – $5,798
Insurance – $900
5% Vacancy – $1,080
Net Income – $13,822
ROI – 6.58% (Return on Investment includes acquisition + $35k worth of work)
Comps:
(1) 7724 Patterson Ln Sold for $365k on 05/28/24 DOM 9
(3bed 1 bath 1,344 Sqft Fully Renovated $271 per Sqft)
(2) 3420 Buckingham Ln Sold for $360k on 05/22/24 DOM 15
(3bed 1.5 bath 1,777 Sqft Fully Renovated $202 Per Sqft)
(3) 8545 Osler Ave Sold for $340k on 04/26/24 DOM
(3bed 1.5 bath 1,612 Sqft Fully Renovated $210 per Sqft)
(4) 8344 Stockton Ave Sold for $325k on 03/22/24 DOM 6
(3bed 2 baths 1,644 Sqft Fully Renovated $197 per Sqft)
(5) 3435 Palace Sold for $340k on 03/15/24 DOM 23
(3bed 1.5 bath 1,882 Sqft Renovated $180 per Sqft)
(6) 8240 Smiley Ave Sold for $380k on 03/27/24 DOM 107
(5bed 2bath 1,201 Sqft Fully Renovated $316 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.