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Rehab Wholesale Project - Newark NJ

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Talha Shahid

from Metuchen, New Jersey

Jan 13 '13, 06:26 PM


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.



Ibrahim Hughes

Real Estate Investor from Union, New Jersey

Jan 13 '13, 08:15 PM


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.



Medium webuynjrealestate bbbIbrahim Hughes, We Buy NJ Real Estate LLC
Website: http://www.WeBuyNJRealEstate.com
We Buy NJ Real Estate, LLC www.WeBuyNJRealEstate.com [email protected]


Talha Shahid

from Metuchen, New Jersey

Jan 14 '13, 07:48 AM


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.



Ibrahim Hughes

Real Estate Investor from Union, New Jersey

Jan 14 '13, 08:12 AM
1 vote


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?


Edited Jan 14 2013, 08:25 by Ibrahim Hughes


Medium webuynjrealestate bbbIbrahim Hughes, We Buy NJ Real Estate LLC
Website: http://www.WeBuyNJRealEstate.com
We Buy NJ Real Estate, LLC www.WeBuyNJRealEstate.com [email protected]


Ankit Duggal

Real Estate Investor from Clifton , New Jersey

Jan 14 '13, 01:01 PM


What ward is the asset located within?



Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

Feb 03 '13, 02:25 PM


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



Medium bp squareJoshua Dorkin, BiggerPockets
E-Mail: [email protected]
Telephone: 877-831-4704
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