Property Description:
410 Robinson Ave Atlantic City NJ 08401
1152 Square Feet
Single Family Residence
3 Bed 1 Bath
ASKING - $20,000.00
This property is perfect for a landlord who wants to buy something cheap, fix it up, & collect $600+/month in Cash Flow. This property sits smack dab in the middle of Atlantic City between the boardwalk and a quiet neighborhood near Venice Par. Potential Potential Potential!
65% ARV – REPAIRS!
Comparable Properties Sold in last year close to property –
645 N Dr Martin Luther King Drive Atlantic City NJ 08401 - $100,000, 1046 Sq Ft - $95.06 per sq ft
823 N Indiana Ave Atlantic City NJ 08401, $100,000, 1010 Sq Ft - $99.00 per sq ft
1019 N Ohio Ave Atlantic City NJ 08401 - $99,900, 1084 Sq Ft – $92.16 per sq ft
1134 N Michigan Ave Atlantic City NJ 08401 - $113,00, 1035 Sq Ft – $109.18 per sq ft
Average Sq Ft - $98.85
After Repair Value = (1152 sq ft)*($98.85 per sq ft) =
After Repair Value: $113,875.20
Investor Calculations:
Fix & Flip
ARV - $113,875 * 65% = $74,018.88
Repairs:$50k
Full Gut - $50k
65% ARV $74,018.88 – (Repairs) 50,000 = $24,018.88
Purchase:$20,000
Return: $43,875.88
Buy & Hold
Rental Income - $1,200.00
Expenses - $568.50
Taxes:$427.50
Insurance: $66.00
Sewer/Water: $75.00
Net Income - $631.50 per Month
5 Year Return - $37,890