Wholesale Investment Property
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129 2ND ST DUNELLEN, NJ 08812
Fix & Flip
Wholesale Price: $87,671
Rehab Cost: $27,000
After Repair Value: $176,122
Projected Net Profit: $44,837
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 2
Bathrooms: 1
Square footage: 884
Lot size: 7,501
Real Estate Tax: $7,624
Occupancy: Vacant
Parking: Yes
Construction Details
Facade and Exterior: Wood
Roof: Singles
Electric: Breakers
Heating: Hot water
Plumbing: Copper
Laundry: Yes
Zoning: Residential
Projected Financials: The following proforma is based on stabilized property occupancy Expenses and profits were derived from market research.
Fix and Flip
Investment Type Cost
Wholesale Price $87,671
Rehab Cost $27,000
Estimated closing costs $3,904
Estimated holding costs $3,904
Estimated selling costs (5% of ARV) $8,806
Total Initial Investment: $131,285
Net Profit Calculation
Estimated After Repair Value $176,122
Total Estimated Investment $131,285
Projected Net Profit: $44,837
Comparables from the MLS used to determine ARV
| Address | Price Sold | Sold Date | Size (sf) | Year Built | Price per sf | Distance from subject property (mi) |
| 136 2ND ST DUNELLEN, NJ |
249,000 | 10/28/2019 | 1271 | 1940 | 195.9 | 0.04 |
| 521 N WASHINGTON AVE DUNELLEN, NJ |
385,000.00 | 9/9/2019 | 1945 | 1908 | 197.94 | 0.27 |
| 334 DUNELLEN AVE DUNELLEN, NJ |
360,000.00 | 9/24/2019 | 1867 | 1918 | 192.82 | 0.34 |
| 302 MOUNTAINVIEW TER DUNELLEN, NJ |
305,000.00 | 7/9/2019 | 1437 | 1918 | 212.24 | 0.35 |
Average Cost/SQFT: $199.73
Average Sold Price: $324,750.00
After Repair Value: $176,561.32