Wholesale Investment Property
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7 Route 130 – BORDENTOWN, NJ 08620
Fix & Flip
Wholesale Price: $40,000
Rehab Cost: $60,000
– Update Kitchen
– Update Bathroom
– Refinish interior walls
– Refinish Interior floors
– Finish 3rd bedroom on the first floor
– Waterproof basement
After Repair Value: $188,042 based on mls comps (see comps below)
Projected Net Profit: $68,120
This projected ARV is conservative. The property next door to this property sold in January 2019 for $235,000
| Address | Price Sold | Sold Date | Size (sf) | Year Built | Price per sf | Distance from subject property (mi) |
3 US HIGHWAY 130 BORDENTOWN, NJ |
235,000 | 1/7/2019 | 1305 | 1950 | 180.07 | 0.01 |
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 3
Bathrooms: 1.0
Square footage: 1216
Lot size: 9,324
Real Estate Tax: $4,709.25
Occupancy: Vacant
Parking: Driveway
Construction Details
Facade and Exterior:
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 $40,000
Rehab Cost $60,000
10% Rehab Hedge $3,000
Estimated closing costs $3,760
Estimated holding costs $3,760
Estimated selling costs (5% of ARV) $9,402
Total Initial Investment: $119,992
Net Profit Calculation
Estimated After Repair Value $188,042
Total Estimated Investment -$119,992
Projected Net Profit: $68,120
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) |
3 US HIGHWAY 130 BORDENTOWN, NJ |
235,000 | 1/7/2019 | 1305 | 1950 | 180.07 |
0.01 |
815 EAST DR BORDENTOWN, NJ |
201,000.00 | 1/29/2019 | 1107 | 1946 | 181.57 |
0.82 |
18 GRAND AVE BORDENTOWN, NJ |
235,000 | 9/14/2018 | 1198 | 1970 | 196.16 |
0.84 |
19 ELM AVE BORDENTOWN, NJ |
128,750 | 10/24/2018 | 1160 | 1952 | 110.99 |
0.9 |
11 PINE AVE BORDENTOWN, NJ |
215,000 | 11/15/2018 | 1360 | 1950 | 158.08 |
0.93 |
755 MISSION RD BORDENTOWN, NJ |
106,000 | 2/14/2019 | 1050 | 1920 | 100.95 |
0.96 |
Average Cost/SQFT: $154
Average Sold Price: $186,791
After Repair Value: $188,042 (Subject Sqft X Avg Comp)