Jump on this unique, vacant 2 family rental opportunity in the Central West neighborhood of Trenton. This property offers HUGE passive income possibilities, check out the long list of features:
- Currently 2 units:
- 1st Floor: 2 beds / 1 bath, living room, dining room, kitchen with walk-in pantry.
- 2nd Floor: Same as 1st Floor (Living room to be converted into 3rd bedroom)
- 2nd Floor Bonus closet in hallway
- Living Space: 2354 sq.ft.
- Large Basement (3 rooms) could be finished!
- Walk-up Attic
- 26’ x 28’ rear yard with side gated entrance off of Calhoun St. Great for off-street parking. Almost UNHEARD of in these parts!
- Two rear enclosed porches (2 more bedrooms?)
- A GREAT Section 8 opportunity.
- Although the D&R Canal runs right behind the property, this house is a FEMA Zone X – Flood Factor 1/10. It DID NOT flood during IDA!
- Easy access to Route 29 and blocks away from the Calhoun St. Bridge into Pennsylvania.
The QUICK NUMBERS:
Rehab budget
$100,000 – $110,000
Expected Rent
(As a 5 beds / 2 baths straight rental)
(non-Section 8)
$2475
Estimated annual expenses
$10,128
CAP Rate
With typical leverage
8.25%
Cash on Cash return
18%
$3150 est. As 5 bedroom Section 8 (if qualified)Gutentor Advanced Text
The Blah Blah Blah:
You MUST be able to close by OCTOBER 25th to acquire this deal!
Please call/text me ASAP with any questions and to schedule a viewing if necessary.
Best offer by the end of day, October 11th, gets the deal.
A non-refundable $10,000 EM Deposit is required by the end of October 12th.