Wholesale Investment Property
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47 Lower Harrison St. Princeton NJ 08540
Fix & Flip
Wholesale Price: $645,000
Rehab Cost: $65,000
– Paint property exterior
– Repair garage roof
– Repair garage soffit
– Refinish 3 bathrooms
– Replace kitchen countertop
– Refinish deck
– Clean up landscaping
After Repair Value: $ 952,000 based on mls comps (see comps below)
Projected Net Profit: $ 143,000
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 4
Bathrooms: 3
Square footage: 2891
Lot size: 25,478
Real Estate Tax: $17,036.18
Occupancy: Occupied
Parking: Garage
Construction Details
Facade and Exterior: Wood
Roof: Singles
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 $645,000
Rehab Cost $65,000
Rehab Hedge 10% $6,500
Estimated closing costs $20,193
Estimated holding costs $25,241
Estimated selling costs (5% of ARV) $47,600
Total Initial Investment: $809,534
Net Profit Calculation
Estimated After Repair Value $952,000
Total Estimated Investment $809,534
Projected Net Profit: $143,000
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) |
| 59 MACLEAN CIR PRINCETON, NJ |
722,500.00 | 1/14/2019 |
2852 |
1968 |
253.33 |
0.42 |
| 552 LAKE DR PRINCETON, NJ |
1,015,000.00 | 8/13/2018 |
2656 |
1955 |
382.15 |
0.58 |
| 35 KNOLL DR PRINCETON, NJ |
950,000.00 | 10/18/2018 |
2464 |
1956 |
385.55 |
0.65 |
| 83 PHILIP DR PRINCETON, NJ |
1,088,500.00 | 9/17/2018 |
2939 |
1963 |
370.36 |
0.89 |
| 23 HEMLOCK CIR PRINCETON, NJ |
936,000.00 | 8/27/2018 |
2582 |
1966 |
362.5 |
0.9 |
| 185 PROSPECT AVE PRINCETON, NJ |
833,375.00 | 12/7/2018 |
2440 |
1940 |
341.54 |
0.92 |
Average Cost/SQFT: $329.49
Average Sold Price: $932,000
After Repair Value: $952,555