Wholesale Multi Family Property
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15 E 2ND ST FLORENCE NJ 08518
Fix/Rent
Wholesale Price: $185,500
Rehab Cost: $20,000
After Repair Value: $258,202 based on mls comps (see comps below)
Property Information
Building Type: Multi Family Property
Bedrooms: 4
Bathrooms: 3
Unit 1 – 2 bed, 1 Bath
Unit 2 – 1 Bed, 1 Bath
Unit 3 – 1 Bed, 1 Bath
Square footage: 2700
Lot size: 6000
Real Estate Tax: $6,783.37
Occupancy: Tenant
Parking: Driveway
Construction Details
Facade and Exterior: Siding
Roof: asphalt
Electric: breakers
Heating: forced air
Plumbing: copper and pvc
Laundry: yes
Zoning: Residential
Projected Financials: The following proforma is based on stabilized property occupancy Expenses and profits were derived from market research.
——— > Current Median Cap Rate for Burlington County is 6.19% – This Wholesale Property Offers an Above Average Return for the area. <————-
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) |
| 237 E 3RD ST FLORENCE, NJ |
209,900 | 8/2/2018 | 1524 | 1920 | 137.72 | 0.16 |
| 228 E 3RD ST FLORENCE, NJ |
185,000.00 | 9/25/2018 | 1596 | 1929 | 115.91 | 0.15 |
| 48 W FRONT ST FLORENCE, NJ |
214,000.00 | 1/8/2019 | 2112 | 1920 | 101.32 | 0.13 |
| 301 BROAD ST FLORENCE, NJ |
195,000.00 | 12/31/2018 | 1855 | 1920 | 105.12 | 0.09 |
| 306 E FRONT ST FLORENCE, NJ |
290,000.00 | 1/4/2019 | 1695 | 1900 | 171.09 | 0.19 |
| 229 W 4TH ST FLORENCE, NJ |
216,000.00 | 10/11/2018 | 1893 | 1930 | 114.1 | 0.23 |
| 336 E 2ND ST FLORENCE, NJ |
257,500.00 | 4/22/2019 | 1352 | 1995 | 190 | 0.25 |
Average Cost/SQFT: $126.57
Average Sold Price: $224,842.86
After Repair Value: $258,202.00