1XX 6th St, Millville, NJ 08332
💰Cash Flow Machine In Millville!
SOLD
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Details:
# Beds : 5 - 6 ( 2 in downstairs unit, 3-4 in upstairs unit)
# Baths: 2
Property Type: Duplex
Square Footage: 2,313
Structure Type: Bungalow
Lot Size: 10,890 Sqft (0.25 Acre)
# Units: 2
Taxes: $1,668
Composition
Electric Service: 100 Amps, Has 2 Split Meters
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Water Source: Public Water
Roof: Asphalt Shingle
Cooling Type: None
Heating Type: Forced Air
Foundation Type: Poured concrete slab on basement, walls are block
Sewer Type: Public Sewer
Type of Parking: Street / Unfinished Driveway (Space for detached garage)
Return on Investment
Asking Price: $135,000
Estimated Rent: $1900-$2000 for upstairs, $1400-1600 for downstairs
Estimated Rehab: $75,000
Estimated Market PPSF: $100.21 - $108.71
After Reno Value: $230k - $240k
Exit Strategy
This Milville cash flow machine is an affordable duplex that can generate up to $3,600 in gross rental income monthly. It's a perfect blank slate for any
contractor or experienced investor to come in, renovate, and start generating rental income. The property is demo'd with some initial renovation stages
having begun. The upstairs unit is extremely spacious and can fit between 3-4 bedrooms no problem. The downstairs unit will allow for up to 2 bedrooms.
This property sits on a spacious cornet lot with an ample yard, driveway, leaving potential for a dettached garage or possibly further development. The
ideal exit strategy for this property would be to renovate, fill with tenants, and then cash out refinance down the line. The affordable annual taxes and
affordable entry point on this property makes there a lot of spread on any potential monthly rental income.
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