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. 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: 1921 (but fully renovated!)
Purchase price: $85,000
Property info: 3 bedrooms, 2 bathrooms, 1,593 square feet, 2+ stories
Monthly rent collected: $1,700
Monthly expenses (conservatively estimated)
Property taxes: $350
Property management fees: $170
Vacancy (7%): $119
Repairs (5%): $85
Total Monthly Expenses- $799
Net Income = Income – Expenses = $901
Cap Rate = 12.73% %
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!