Nice house in quiet street located in desirable Pine Hill! House features an open living room with cathedral ceiling. House currently comes with 2 bedrooms and a full bath finish off the first floor, it also has a finished walk up attic that leads to the 3rd bedroom. There’s an extra room added next to the attached one-car garage. This room can be finished for a possible playroom, office, den, or even a 4th bedroom. Back deck overlooks a large backyard featuring a privacy fence! Conveniently located to major roadways for commuters and local shops, restaurants, golf clubs, parks, schools, and more! Taxes for this property are $6,197 per year and with about $25k worth of work it can be rented for about $1,300 – $1,400 per month.
Gross Income $15,600
5% Vacancy $780
Net Income $7,823
ROI 12.03% (this includes $25k worth of work + acquisition)
Note: Comps below are all 3 bedrooms, subject property has an extra room that can be turned into a 4th bedroom.
48 E. 5th Ave Sold for $115k – 01/03/17 (1 Bath more, 207 Sqft more, Out Dated)
88 E. 6th St Sold for $120k – 06/29/16 (1 Bath more, 236 Sqft less)
126 E.Branch Ave Sold for $130k – 03/16/16 (116 Sqft less)
18 W. Woodburn Ave Sold for $130k – 05/13/17 (115 Sqft more, 1/2 Bath more , No Garage)
9 E. 6th Ave Sold for $139k – 04/15/17 (164 Sqft less, No Garage)
10 E. 4th Ave Sold for $140k – 06/01/16 (1.5 Baths more, 180 Sqft more, No Garage)
80 Grove St West Deptford Sold for $145k – 08/01/16 (398 Sqft more)
Flip this house in Pine Hills New Jersey