Rental Opportunity| 179K | GOI: 38,400Yr | Plainfield, New Jersey

[William Kwong]

**THIS DEAL WILL GO FAST**

**PLEASE EMAIL OR CALL ME DIRECTLY FOR MORE INFORMATION**

[email protected]

Property Features

• Multi-Family (Potential 3rd Unit with Basement)
• 7 Bedrooms (4 beds upstairs, 2 beds downstairs, 1 Basement)
• 3 Bathrooms (1 baths downstairs, 1 baths upstairs, 1 Basement)
• Partially Finished Basement (Utilized as a part of 1st unit. - Needs kitchen to become finished 3rd unit.)
• 1,356 sq. ft.
• 7,518 sq. ft. Lot
• Gas Heat
• Driveway
• Newer Siding
• Newer Windows
• Newer Roof
• Heating System only 6 years old
• Porch has new wood
• Currently vacant

Property Financials

Estimated Repairs: $20,000

Cash Flow Considerations

Pro-Forma GOI: $38,400
Fixed Expenses: $8,500 (Taxes $6,800, Insurance $1,200, Water & Sewer $500)
Pro-Forma NOI (excl. var. expenses): $29,900

Variable Expenses: $7,680 (15% for Vacancy & Prop. Mgmt, 5% Repairs)
Pro-Forma NOI (inc. var. expenses): $22,220

As-Is Price: $179,000

Pro-Forma Cap Rate: 11.1% - 15.0%

(*IF Basement kitchen added, and utilized as 3rd unit, GOI increases to $45,000 with $550 monthly rental.*)

***Seller has received 5 calls for occupying units in the last two weeks.***

**PLEASE EMAIL OR CALL ME DIRECTLY FOR MORE INFORMATION**

[email protected]