New Development Opportunity in a $800,000 + Neighborhood

21 Chapel Rd, Mahwah, NJ 7430

$900,000 After Repair Value -
$359,750 Asking Price -
$350,000 Cost of Repairs =
$190,250 Potential Profit

Property Details

Asking Price $359,750

After Repair Value $900,000

Costs of Repairs $350,000

Potential Profit $190,250

Living Area N/A

Property Type Single Family House

Bedrooms 3

Bathrooms 1

Half Bathrooms 1

Parking 0

Listed with Agent No

Property Description

Attention Investors and Developers

-House on chapel road has an undersized house of 856sqft. -It needs to be completely taken down, at least that is what i would recommend. It is currently tenanted on a month to month commitment. -Lot has a great layout for a - sqft house.
-Selling as a lot. -30,492 sq. Ft lot -good for a 2,500 sqft plus house with arv of $800k plus. -Avg neighborhood living space is 2,300sqft with an average sale price of $670,000+. A new house in this neighborhood can easily sell for $900,000+. There are two houses currently going for $1,000,000 plus.

This property has a share entrance. Meaning, there is another property behind that uses the same entrance.

I am a wholesaler
Contract Assignment Fee Applies

Repairs Needed

The house needs to be taken down to build a new house that matches the neighborhood. \r\n\r\nThe current house is 854sqft, everything in the neighborhood averages in the low 2000 sqft.

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