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Wholesale Investment Property
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This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.
This property is available for purchase only with Cash, Hard Money, or Private Money.
449 Center St Phillipsburg, NJ 08865
Fix and Flip – Buy and Hold
Wholesale Price: $180,000
Rehab Cost: $57,000
After Repair Value: $330,000
Projected Net Profit: $57,389
Property Information
Building Type: Single Family
Bedrooms: 3
Baths:2
Property SF: 1,900
Real Estate Tax: $6,649
Vacant: No
Parking: Garage -Detached
Construction Details:
Facade and Exterior: Siding
Roof: Shingle
Electric: Functional, but there needs updates on switches, outlets and possibly the panel
Heating: Furnace (dated) located in basement along with an Oil tank above ground, but located in the basement as well. I was not told if it’s in-operation as seller uses furnace for heating which was functional and tested on-site
Plumbing: No plumbing concerns as per the seller but kitchen and baths could use rental grade updating
Laundry: No washer dryer hookups
Sewer: City Sewer
Water: City Water
Zoning: Residential
Projected Financials: The following breakdown is based on stabilized property occupancy expenses and profits were derived from market research.
Fix and Flip –Buy and Hold
Investment Type Cost
Wholesale Price $180,000
Rehab Cost $57,000
Estimated closing costs $6,956
Estimated holding costs $6,956
Estimated selling costs (5% of ARV) $16,500
Total Initial Investment: $267,412
Net Profit Calculation
Estimated After Repair Value $330,000
Total Estimated Investment $267,412
Projected Net Profit: $57,389
Comparables from the MLS used to determine ARV
Average Sold Price: $248,270.0
| Address | Price Sold | Sold Date | Size (sf) | Year Built | Price per sf | Distance from subject property (mi) |
| 382 THOMAS ST PHILLIPSBURG, NJ |
235,000.00 | 8/26/2021 | 1296 | 1929 | 181.32 | 0.16 |
| 813 WILBUR AVE PHILLIPSBURG, NJ |
219,900.00 | 12/30/2021 | 1088 | 1920 | 202.11 | 0.36 |
| 831 COLUMBUS AVE PHILLIPSBURG, NJ |
237,000.00 | 9/10/2021 | 1268 | 1935 | 186.9 | 0.36 |
| 419 FIRTH ST PHILLIPSBURG, NJ |
301,180.00 | 10/26/2021 | 1860 | 1999 | 161.92 | 0.44 |
| 561 EDWARD ST, PHILLIPSBURG, NJ |
365,000.00 | 12/22/2021 | 1,949 | 2008 | 187.2 | 0.75 |