Asking $ 69,995
Est. Repair $70,000 *
Est. Repaired Value $230,000 **
Potential Gross Profit >>>>$90,000<<<<
Nice size house with 3bed 2bath, located on private road in wonderful Newton NJ (Stillwater Twp). Home comes with a nice size back deck and full unfinished basement. House is a great fix and flip deal, it would need about $70k to flip for a nice lump sum of cash!. ( NOTE: the $70k in estimate repairs including $20k for the septic, no info available on septic) House would need about $25k worth of minor TLC to get rent ready. Homes in the area are renting for approximately $1,650 – $1,750 per month, taxes are approximately $5,829.
Gross Income – $19,800
Insurance – $1,000
Taxes – $5,829
5% Vacancy – $990
Net Income – $11,981
ROI 13.31% (Return on Investment includes acquisition + $20k worth of TLC)
COMPS:
920 Lotus Ter Sold for $203k on 06/12/17 (3bed 1.5baths 984 sqft)
1041 Stillwater Rd Sold for $203k on 09/01/17 (3bed 1bath 1068 sqft)
923 Old Foundry Rd Sold for $230k on 04/20/17 (3bed 2bath 1440 sqft)
927 Old Foundry Rd Sold for $220k on 12/7/16 (3bed 2bath 1904 sqft)
926 Old Tannery Rd Sold for $282k on 09/16/17 (3bed 2bath 1950 sqft)
1007 Stillwater Rd Sold for $327k on 05/15/17 (3bed 2bath 2246 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 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.