Wholesale Investment Property – Turnkey Rental
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This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.
This Property has 2 Rental Units:
3 bedroom ($1600 current rent. This is an under-market rent and can be increased) and a 1 bedroom $1800 current rent.
35 W 2ND St BOUND BROOK, NJ 08805
Wholesale Price: $270,000
Rehab Cost: $25,000
After Repair Value: $350,000
Cap Rate: 8.10%
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 4
Bathrooms: 2
Square footage: 1,913
Lot size: 7,501
Real Estate Tax: $8,024
Occupancy: Occupied
Parking: Garage
Construction Details
Facade and Exterior: Asbestos Shingles
Roof: Shingles
Electric: Breakers
Heating: Oil
Plumbing: Copper
Laundry: Yes
Zoning: Residential
Rental Analysis
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) |
| 38 W HIGH ST BOUND BROOK, NJ |
288,000 | 11/22/2019 | 1712 | 1908 | 168.22 | 0.08 |
| 23 JOHN ST BOUND BROOK, NJ |
200,000.00 | 3/23/2020 | 1320 | 1915 | 151.51 | 0.13 |
| 112 W HIGH ST BOUND BROOK, NJ |
370,000.00 | 3/6/2020 | 1882 | 1900 | 196.59 | 0.13 |
| 21 E HIGH ST BOUND BROOK, NJ |
360,000.00 | 7/1/2020 | 1811 | 1850 | 198.78 | 0.16 |
| 148 W FRANKLIN ST BOUND BROOK, NJ |
320,000.00 | 1/22/2020 | 1702 | 1900 | 188.01 | 0.22 |
| 237 W FRANKLIN ST BOUND BROOK, NJ |
280,000.00 | 11/22/2019 | 1434 | 1910 | 195.25 | 0.34 |
Average Cost/SQFT: $183.07
Average Sold Price: $303,000
After Repair Value: $350,000