Property Description:
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47 Lower Harrison St. Princeton NJ 08540
Fix & Flip
Wholesale Price: $690,787
Rehab Cost: $65,000
- Paint property exterior
- Repair garage roof
- Repair garage soffit
- Refinish 3 bathrooms
- Replace kitchen countertop
After Repair Value: $ 1,010,000 based on mls comps (see comps below)
Projected Net Profit: $ 151,351
= 15% ROI
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 $690,787
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) $50,500
Total Initial Investment: $858,221
Net Profit Calculation
Estimated After Repair Value $1,010,000
Total Estimated Investment $858,221
Projected Net Profit: $151,351
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 722,500.00 1/14/2019 2852 1968 253.33 0.42
PRINCETON, NJ
552 LAKE DR 1,015,000.00 8/13/2018 2656 1955 382.15 0.58
PRINCETON, NJ
35 KNOLL DR 950,000.00 10/18/2018 2464 1956 385.55 0.65
PRINCETON, NJ
83 PHILIP DR 1,088,500.00 9/17/2018 2939 1963 370.36 0.89
PRINCETON, NJ
23 HEMLOCK CIR 936,000.00 8/27/2018 2582 1966 362.5 0.9
PRINCETON, NJ
185 PROSPECT AVE 833,375.00 12/7/2018 2440 1940 341.54 0.92
PRINCETON, NJ
Average Cost/SQFT: $349.24
Average Sold Price: $924,229.17
After Repair Value: $1,009,652.84