Property Description:
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276 TRENTON LAKEWOOD RD CREAM RIDGE, NJ 08514
Fix & Flip
Wholesale Price: $135,000
Rehab Cost: $100,000
After Repair Value: $404,101
Projected Net Profit: $131,152
Property Information
Building Type: SINGLE FAMILY RESIDENCE
Bedrooms: 3
Bathrooms: 2
Square footage: 2838
Lot size: 21000
Real Estate Tax: $4,527.00
Occupancy: Vacant
Parking: Garage
Construction Details
Facade and Exterior: Wood
Roof: Shingles
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 $135,000
Rehab Cost $100,000
Estimated closing costs $8,872
Estimated holding costs $8,872
Estimated selling costs (5% of ARV) $20,205
Total Initial Investment: $272,949
Net Profit Calculation 155000
Estimated After Repair Value $404,101
Total Estimated Investment $272,949
Projected Net Profit: $131,152
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)
7 LENN RD
ALLENTOWN, NJ 548,000 6/6/2019 4588 1999 119.44 1.2
131 MEIRS RD
CREAM RIDGE, NJ 440,000.00 11/1/2018 2742 1985 160.46 1.29
2 BABBITT WAY
ALLENTOWN, NJ 710,000.00 7/12/2019 5253 2002 135.16 1.33
77 YELLOW MEETINGHOUSE RD
CREAM RIDGE, NJ 430,000.00 3/4/2019 2798 1982 153.68 1.92
3 APPLE BLOSSOM LN
CREAM RIDGE, NJ 830,000.00 1/3/2019 5393 2004 153.9 1.95
Average Cost/SQFT: $144.53
Average Sold Price: $591,600.00
After Repair Value: $404,101