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: 1924 (but fully renovated)
Purchase price: $88,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 1 bathrooms, 1,599 square feet, 2+ stories, 1 car garage
Monthly rent collected: $1,300
Monthly expenses (conservatively estimated)
Property taxes: $379
Property management fees: $130
Vacancy (7%): $91
Repairs (5%): $65
Total Monthly Expenses- $715
Net Income = Income – Expenses = $585
Cap Rate = 7.98 %
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!