Wholesale Investment Property
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144 S LOGAN AVE TRENTON, NJ 08609
This rental unit is profitable with a ( 11.34% ) Cap at the current rent of $1175.
Rent increase is expected by the tenants when their lease renews. At a new rent of $1275 the Cap Rate will increase to ( 12.99% )
This property has been well maintained. It has a new roof, updated kitchen, updated bathroom, and new laminate flooring.
This turnkey rental comes with stable long term tenants.
Fix/Rent
Wholesale Price: $60,000
Rehab Cost: 5,000
After Repair Value: $75,127.50
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 3
Bathrooms: 2
Square footage: 1134
Lot size: 1,250
Real Estate Tax: $2,173
Occupancy: Vacant
Parking: Garage
Construction Details
Facade and Exterior: Wood
Roof: Shingles
Electric: Breakers
Heating: Oil
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.
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) |
1403 GREENWOOD AVE TRENTON, NJ |
72,000 | 6/18/2019 | 1176 | 1925 | 61.22 | 0.09 |
154 GARFIELD AVE TRENTON, NJ |
77,500.00 | 6/4/2019 | 1168 | 1924 | 66.35 | 0.11 |
24 S LOGAN AVE TRENTON, NJ |
80,000.00 | 1/15/2019 | 1256 | 1902 | 63.69 | 0.15 |
326 MASSACHUSETTS AVE HAMILTON, NJ |
94,600.00 | 1/15/2019 | 1210 | 1940 | 78.18 | 0.16 |
320 CLEVELAND AVE TRENTON, NJ |
77,000.00 | 3/5/2019 | 1246 | 1915 | 61.79 | 0.19 |
Average Cost/SQFT: $66.25
Average Sold Price: $80,220.00
After Repair Value: $75,127.50