Since 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.
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
Monthly rent collected: $1,200
Monthly expenses (conservatively estimated)
Property taxes: $343
Property management fees: $120
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $657
Net Income = Income – Expenses = $543
Cap Rate = 8.68%
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 email@example.com. Take the plunge: you won’t regret it!