Property Description:
835 Berkeley Ave Trenton NJ 08618
3553 Square Feet Multi-Family Duplex 1st Floor – 3 bed 2 bath 2nd Floor – 3 bed 2 bath
ASKING - $100,000
Buy & Hold:
Purchase Price:$105K Renovations: $80-$100k All in $185k – $205k
Rent: Both Units $3,000/Month Taxes: $651.66 Insurance: $150.00 NET: $2,199
$2,199/185K = 11.8% CAP RATE
$2,199/205K= 10.7% CAP RATE
Fix & Flip:
Purchase Price: $105K Renovations: $80-$100k All in $185k – $205k ARV: $323,713.83 65%:$210,413.99 Minus Repairs: $110 – $130K
Comparable Properties Sold in last year close to property –
855 Berkeley Ave Trenton NJ - $350,000 / 3692 Sq Ft = $94.97 per sq ft
812 Riverside Drive Trenton NJ - $315,000 /4600 Sq Ft = $68.49 per sq ft
909 Bellevue Ave Trenton NJ -$320,000/2666 Sq Ft= $120.03 per sq ft
16 Belmont Circle Trenton NJ -$272,000/3360 Sq Ft= $80.95 per sq ft
Average Sq Ft - $91.11 = (3553 sq ft)*($91.11)
ARV ($323,713.83) * 65% = $210,413.99 – Repairs ($100k) = $110,413.99