Trenton-turnkeySince Trenton is still a brand new market for Hipster to explore, we’re going back east today to check it out. It’s a pretty amazing score – Trenton comes with all the bells and whistles for savvy investors. Real estate mogul Barbara Corcoran has her eyes on Trenton, pointing out that it’s half-way between Philly and New York: she believes this market is poised for real growth. Aside from Trenton’s premium location, it has a uniquely low unemployment rate and a high price to rent ratio, which means you score quality tenants with a low-buy in and a higher monthly cash flow.

Here’s today’s hot Trenton property for you – it even comes with a one year maintenance guarantee and a one year free tenant replacement which means no leasing fees for you.

Single-Family Home

Location: Trenton, NJ.

Built In: 1920(but fully redeveloped, including plumbing, electrical, you name it)

Purchase price: $75,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 1 bathroom, 1,412  square feet, 2+ stories

Income

Monthly rent collected: $1,200

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $343

Insurance: $50

Property management fees: $120

Vacancy (7%): $84

Repairs (5%): $60

Total Monthly Expenses- $657

Net Income = Income – Expenses = $543

Advanced Numbers

Cap Rate = 8.68%

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!

Comments
  • Jon Freeman
    Reply

    Why are property taxes so high? Over $4000 a year for a $75.000 property seems very high.

    • Ali
      Reply

      Hey Jon, yep, the taxes in NJ are the highest of all the markets. I can double-check the $4000/year amount with the seller for you for sure.

  • Elaine de Reyna
    Reply

    Great find! I grew-up just outside of Trenton and my parents are still there. The city has many charming brownstones that are ripe for renovation and investment. Don’t forget that Princeton, NJ and New Hope, PA are a short drive from the city of Trenton.

    • Ali
      Reply

      Awesome Elaine!

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