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Incredible Rental Opportunity 🏦🏦 (Glassboro,NJ)

Incredible Rental Opportunity 🏦🏦 (Glassboro,NJ)

  Incredible Rental Opportunity 127974127974 Glassboro,NJ

Ad id: 2007179440663842
Views: 3
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Exclusive College Rental Opportunity in the Hottest Rental Market of Glassboro,NJ
"Home of Rowan University"

Details: High St E, Glassboro.NJ 08028
Bedrooms: 10
Bathrooms: 5
Type: Single Family
Living Area: 4337 Sqft
Design: 3-Story
In-ground pool
Lot Size: 2.13 Acres

Fantastic Opportunity In the Heart of Glassboro. Visions of Granduer! "The Mansion at the end of the road" as it was called by locals. There are hardwood floors throughout the house. The basement consist of 5 rooms. There are 2 bedrooms and 1.5 bath on the ground floor, 5 bedrooms and 2 bathrooms on the 2nd floor and 3 bedroom, 1 bath apartment on the 3rd floor. There is a fabulous in-ground pool which was renovated few years ago . New Water heater was put in 3 years ago. It has city sewer, city water and gas. Plenty of room for backyard activities. It is (1.6miles) from Rowan University, close access to public transportation and is within walking distance of local facilities and amenities. Plenty of parking space on the property. There are 2 ladies who rent the 2 rooms on the first floor and pay $500 each and also help with the upkeep of the Lawns. They are on a month to month lease. They are good paying tenants. Below is the projection if you decided to use the entire property as a college rental or a group rental to generate Passive Income every month.

Rental Scenario:
Projected Annual Operating Income
Potential Gross Rent $72,000
Taxes $12,000
5% Vacancy $3900
Insurance $2800
Misc $4000
Potential Net Operating Income $49,300
ROI 15.95% (this includes $50k worth of work + Acquisition)

Asking Cash Price: $259,000
After Repaired Value: $471,000
Rehab Cost: $50,000
Potential Equity $162,000

There is tremendous value in this property, Huge Potential with excellent return
Real Estate Market in Glassboro is Hot
Won't Last!!! For more details
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Last Updated on: February 21, 2018
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