Cash Flow Potential 2 Family - 12% Cap - $60,000 Irvington, NJ

[Cedric Stout]

2-Unit Multi-family with great income potential in Irvington, NJ for only $60,000!

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Property Address:
471 Grove St
Irvington, NJ 07111

Picture Slideshow:
https://www.youtube.com/watch?v=54CEQorCPP0

Google Street View:
https://www.google.com/maps/place/471+Grove+St,+Ir...
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Cash Buyers Only.

Multi-family home in the Northern part of Irvington (bordering East Orange and Newark) is in need of a complete rehab throughout the whole house. Includes an unfinished basement, 7 bedrooms, 3 bathrooms. Driveway accessible from the side streets. Conveniently located minutes from Garden State Parkway and Route 280. This can either be a flip or rental.

Flip:
ARV: $210,000
Estimated Repairs: $80,000-100,000 (full gut rehab)

Asking Price: $60,000

Rental:
Total Investment: $160,000 (Asking price + Repairs)
Estimated Rent: $2,500 (cumulative)
• GOI: $30,000
-Taxes: $3,700
-Insurance: $1,000
-Repairs/Maintenance @ 5% GOI: $1,500
-Property Management @ 8% GOI: $2,400
-Vacancy @ 7% GOI: $2,100

NOI: $19,300 / Total Capital Investment

12% Cap rate: $160,000
11% Cap rate: $175,000
10% Cap rate: $193,000
8.3% Cap rate: $230,000

Don't miss out on this great deal! To make an offer or to schedule a showing, call Cedric at 910-977-5504 or email [email protected].

www.stoutinvestments.com