Property Description:
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16 Brunswick Ave Spotswood, NJ 08884
Fix & Flip
Wholesale Price: $255,039
Rehab Cost: $50,000
After Repair Value: $396,146
Projected Net Profit: $51,500?
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 4
Bathrooms: 1
Square footage: 1,763
Real Estate Tax: $7,674
Occupancy: Vacant
Parking: Yes
Construction Details
Facade and Exterior: Vinyl
Roof: Shingles
Electric: Breakers
Heating: Electric
Plumbing: Copper
Laundry: Yes
City Sewage
Well Water
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 $255,039
Rehab Cost $50,000
Estimated closing costs $7,920
Estimated holding costs $11,880
Estimated selling costs (5% of ARV) $19,807
Total Initial Investment: $344,646
Net Profit Calculation
Estimated After Repair Value $396,146
Total Estimated Investment $344,646
Projected Net Profit: $51,500?
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)
17 EATON AVE
SPOTSWOOD, NJ 348,000 6/21/2019 1544 1956 225.38 0.1
42 EATON AVE
SPOTSWOOD, NJ 410,000.00 1/15/2020 2086 1956 196.54 0.15
87 WYOMING AVE
SPOTSWOOD, NJ 325,000.00 8/22/2019 1308 1967 248.47 0.23
21 SOUTH ST
SPOTSWOOD, NJ 268,000.00 6/5/2019 1282 1921 209.04 0.33
146 BROOKLYN AVE
SPOTSWOOD, NJ 340,000.00 12/2/2019 1798 1911 189.09 0.34
108 VLIET ST
SPOTSWOOD, NJ 325,500.00 5/13/2020 1188 1949 273.98 0.35
161 WYOMING AVE
SPOTSWOOD, NJ 339,000.00 9/6/2019 1454 1947 233.14 0.39
28 GORDON AVE
SPOTSWOOD, NJ 325,000.00 11/26/2019 1628 2006 199.63 0.42
10 JUNE RD
SPOTSWOOD, NJ 362,500.00 1/22/2020 1468 1968 246.93 0.42
Average Cost/SQFT:$224.70
Average Sold Price:$338,111.11
After Repair Value: $396,146.10