47 Lower Harrison St. Princeton NJ 08540 For Sale

  • $645,000
  • 4 beds
  • 3 baths
  • 2891 sqft

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

Price:
$645,000
Address:
47 Lower Harrison St
Princeton, NJ 08540
Square Feet:
2891
Lot Size:
25,478
Bedrooms:
4
Bathrooms:
3
Terms:
For Sale
Property Type:
Home
Year Built:
1920
Basement:
unfinished
Const. Type:
Single Family Home

Additional Features

This property also has a water view. That will add to the resale desirability.

Call (609) 807-1497 for more details

Property Location