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Forums » Real Estate Marketplace » Rehab Wholesale Project - Newark NJ

Rehab Wholesale Project - Newark NJ

7 posts by 4 users

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· Metuchen, New Jersey


Quick and easy rehab project for the right investor.

This is a property that will Cash Flow at almost a 16% projected cap rate. It is a great property to fix and rent.

Wholesale price - $100k
Monthly Rent - $2,200 total (1,100) per unit.

Cost of Rehab left - $25,000 includes flooring, kitchen, bathroom, trim work...

2,200(monthly rent)x12(months)= 26,400 (Yearly Gross Revenue)

26,400(Gross Revenue)-
4,000 (taxes)-
2,000 (Maintenance and insurance) =

20,400

20,400/ 130,000( Purchase with rehab and closing costs)= 15.8% Cap Rate.

Postlets link: http://www.postlets.com/repb/8659205

Pics: http://tsqlink.us/newark

Call me at 732-535-7795 to schedule a showing.



Real Estate Investor · Union, New Jersey


Hi Talha:

What ward (south, east, North or west) is this? If south, is this near or on the numbered streets?

Is there a living room and dining room in each unit or just a living room?

Are the pipes still there? Is the roof new (I see that the rest of the exterior is new)?

Thanks in advance for the info.



· Metuchen, New Jersey


Hey Ibrahim

I'll PM you the address.

Yes there is a living room but no dining room.

Roof and all piping is brand new.

Thanks.



Real Estate Investor · Union, New Jersey


Hi Talha and thanks for the PM:

Shouldn't your cap rate projections include vacancy (5%) and management (10%) and water/sewer?

I haven't been able to find an existing (non new construction) 2 family (with 8 rooms) selling for more than $80k on the mls (I checked the last 4 mos) unless it's in North Newark (highest I saw there was $100k) or Ironbound (up to $172 but it's likely an owner occ property in that neighborhood - not much new owner occs in south ward, mostly rentals).

Do you have other comps I haven't seen?



Real Estate Investor · Clifton , New Jersey


What ward is the asset located within?



· Metuchen, New Jersey


@Ankit Duggal - South Ward



BiggerPockets Founder · Denver, Colorado


Hey @Talha Shahid - I'd love if you could jump in and answer @Ibrahim S's questions from above. Thanks!


Small_bp-squareJoshua Dorkin, BiggerPockets
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