Property Description:
22 Middle Street Heislerville NJ 08324
854 SQ FT
Single Family Residence
3 Bed 1 Bath
Attention all you handymen and savvy investors - This property is screaming for some TLC and is in the perfect spot away from the city to add to your portfolio. Just a short distance to the Delaware Bay & Maurice River. imagine the possibilities. Beautiful VIEW! This will go QUICK!
Comparable Properties Sold in last year close to property–
684 Haleyville Road Port Norris NJ 08349 - $179,000, 1,200 Sq Ft - $149.16 PPSF
4188 Route 47 Rd Leesburg NJ 08327 - $169,000, 900 Sq Ft - $187.78 PPSF
3535 Route 47 Delmont NJ 08314 - $159,000, 1,248 Sq Ft - $127.40 PPSF
1605 North Ave Port Norris NJ 08349 - $141,000, 800 Sq Ft - $176.25 PPSF
Average Sq Ft - $160.18 PPSF
After Repair Value = (160.18 per sq ft) *(854 sq ft) =
After Repair Value: $136,793.72
Investor Calculations:
Fix & Flip
ARV - $136,793.72* 65% = $88,915.92
Estimated Repairs: $55k
Paint – 15K
Kitchen – 10k
Bathroom – 5k
Flooring – 10k
Exterior – 8k
65% ARV $88,915.92 – (Repairs) $55,000 = $33,915.92
Purchase: $25,000
Return:
$8,915.92 (Difference between ARV Minus Repairs & Purchase Price)
+ $47,877.80 (Difference between ARV & 65% ARV)
= $56,793.72!
Buy & Hold
Rental Income - $1,200.00
Expenses - $212.91
Taxes: $87.91
Insurance: $75.00
Sewer/Water: $50.00
Net Income - $987.09 per Month
5 Year Return – $59,225.40!