Updated over 10 years ago on .
High end house for sale in Southern NJ (near Philadelphia)
Hi BP Community!
Looking to sell a 4 bedroom, 4.5 bath, 4700 SF house on 2 acres in southern NJ for $575,000. The home is move in ready, secluded on 2 acres, and has a very open and modern concept ideal for a family and hosting and entertaining. Built in 1960. We have limited experience in this end of the market and are looking for advice from the BP community on how to market or potential investors that would be interested in more details.
Large kitchen that flows into the living room, large windows to overlook the backyard. Cathedral ceilings, walk in closet in master suite, tons of closets and built ins throughout. As of now, the home's move in ready value is approximately $620,000. The land the property sits on is worth $275,000 alone.
Its really a great home that you could move directly into and be happy. However, if you want to flip it and get the value up to the highest end of the market, we estimate repairs at $40k -$65k. $65k if you want to go with very high end finishes, and go all out. The hardwood floors are in near perfect condition.
Deal stats:
Asking: $575,000 (cash preferred)
Present Move in value: $620,000
After Repair Value: $785,000 (have comps to support)
Renovation Costs: $40,000-$65,000 (bathrooms, kitchen cabinets, new appliances, new downstairs carpet, tile, paint, etc).
Potential Profit: ~$90,000+
Thank you for your time