waw-trenton-turnkey-march15You know at Hipster we’ve fallen in love with Trenton, NJ… And we found another FOURplex for you to check out this week!

So 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. Incredible low buy-in deals and some excellent no-hassle properties for you to choose from.

So what are you waiting for? 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!

Fourplex

Location: Trenton,NJ.

Built In: 1891 (but fully renovated)

Purchase price: $220,000 (not a foreclosure, normal sale)

Property info: 6 bedrooms, 4 bathrooms, 2,588 square feet, 2+ stories

Income

Monthly rent collected: $2,900

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $259

Insurance: $125

Property management fees: $290

Vacancy (7%): $204

Repairs (5%): $145

Total Monthly Expenses- $1,022

Net Income = Income – Expenses = $1,878

Advanced Numbers

Cap Rate = 10.24 %

annual net income (non-inclusive of mortgage payment) / purchase price

Cash-on-cash return =

Depends on your leveraging.

Special Terms

  • 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 melissa@hipsterinvestments.com.

Take the plunge: you won’t regret it!

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