So- Hipster fell in love: with Trenton, NJ…. What do we find so attractive about this city located between New York and Philly? Everything! The location is just right: poised for real growth in an in-demand locale. Unemployment is significantly low here.
Lots of stable renters. Timing is everything and right now Trenton has some incredible low buy-in deals and some excellent no-hassle properties for you to choose from. Side note: like us, Barbara Corcoran loves Trenton too – and we think you will 😉 Today’s property comes with a tenant in place as a condition of closing and free tenant replacement (no leasing fee) during your first year of ownership!
Built In: 1970 (but fully redeveloped, including: plumbing, electrical, you name it)
Purchase price: $70,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 1 bathrooms, 1,200 square feet, 2+ stories
Monthly rent collected: $1,200
Monthly expenses (conservatively estimated)
Property taxes: $250
Property management fees: $120
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $564
Net Income = Income – Expenses = $636
Cap Rate = 10.90 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 1 year maintenance guarantee
- Free tenant replacement (no leasing fee) during the first year of ownership
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org.
Take the plunge: you won’t regret it!