Wholesale Investment Property
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276 TRENTON LAKEWOOD RD CREAM RIDGE, NJ 08514
Fix & Flip
Wholesale Price: $135,000
Rehab Cost: $100,000
After Repair Value: $404,101
Projected Net Profit: $131,152
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 3
Bathrooms: 2
Square footage: 2838
Lot size: 21000
Real Estate Tax: $4,527.00
Occupancy: Vacant
Parking: Garage
Construction Details
Facade and Exterior: Wood
Roof: Shingles
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 $135,000
Rehab Cost $100,000
Estimated closing costs $8,872
Estimated holding costs $8,872
Estimated selling costs (5% of ARV) $20,205
Total Initial Investment: $272,949
Net Profit Calculation 155000
Estimated After Repair Value $404,101
Total Estimated Investment $272,949
Projected Net Profit: $131,152
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) |
| 7 LENN RD ALLENTOWN, NJ |
548,000 | 6/6/2019 | 4588 | 1999 | 119.44 | 1.2 |
| 131 MEIRS RD CREAM RIDGE, NJ |
440,000.00 | 11/1/2018 | 2742 | 1985 | 160.46 | 1.29 |
| 2 BABBITT WAY ALLENTOWN, NJ |
710,000.00 | 7/12/2019 | 5253 | 2002 | 135.16 | 1.33 |
| 77 YELLOW MEETINGHOUSE RD CREAM RIDGE, NJ |
430,000.00 | 3/4/2019 | 2798 | 1982 | 153.68 | 1.92 |
| 3 APPLE BLOSSOM LN CREAM RIDGE, NJ |
830,000.00 | 1/3/2019 | 5393 | 2004 | 153.9 | 1.95 |
Average Cost/SQFT: $144.53
Average Sold Price: $591,600.00
After Repair Value: $404,101