Property Description:
527 N New York Ave Atlantic City NJ 08401
1040 Square Feet
Single Family Residence
3 Bed 1 Bath
ASKING - $18,750.00
This property is perfect for a landlord who wants to put in minimal work & collect $700+/month in Cash Flow. This property sits smack dab in the middle of Atlantic City between Golden Nugget & Ballys in Atlantic City in a quiet neighborhood near Venice Park. This property will be great to spend a few weeks getting it proper & putting a tenant in or immediately putting it on the MLS. Your Choice!
Comparable Properties Sold in last year close to property –
719 N Ohio Ave Atlantic City NJ 08401 - $109,000, 1436 Sq Ft - $76.53 per sq ft
601 N Trenton Ave Atlantic City NJ 08401 - $106,000, 1794 Sq Ft - $59.09 per sq ft
327 N New York Ave Atlantic City NJ 08401, $75,000, 1352 Sq Ft - $55.47 per sq ft
437 N Connecticut Ave Atlantic City NJ 08401 - $120,000, 1692 Sq Ft – $70.92 per sq ft
Average Sq Ft - $65.50
After Repair Value = (1040 sq ft)*($65.50 per sq ft) =
After Repair Value: $68,120
Investor Calculations:
Fix & Flip
ARV - $68,120
Repairs:$35k
$69,120 – (Repairs) 35,000 = $33,120
Purchase:$18,750
Return: $14,370
Buy & Hold
Rental Income - $1,100.00
Expenses - $333.00
Taxes:$133.00
Insurance:$125.00
Sewer/Water: $75.00
Net Income - $767.00 per Month
Cash on Cash Return = 17%!
5 Year Return - $46,020.00