31 Mitchell Ave

Penns Grove, NJ 08069
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3 bd, 1 ba | 1,196 sqft | Built in 1998

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List Price
$55,500

Initial Investment

$58,398

Purchase Price

$53,200

Down Payment

100%

Rent

$1,250

Total Return

$37,264

Annualized Return

12.0%

Cap Rate

11.3%

Gross Yield

28.2%

Cash Flow

$5,132

Appreciation

5.9%
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Features

Occupancy

Occupied

Lease Start

10/01/2017

Lease End

08/31/2020

Lot Size

6,316

HOA

None

Flood Risk

Not Required

  • Attentive longterm HUD tenant of 3 years
  • Attractive cap rate, meets 1% rule
  • Priced below market value
  • Easy access to interstate 295 and NJ Turnpike
  • 22 mins to Wilmington, Delaware and 30 mins to Camden, New Jersey and Philadelphia, PA

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Annual Financial Highlights

Expected Rent

$14,250

Expenses

-$5,118

Property Taxes

-$4,000

Loan Payments

$0

Net Cash Flow

$5,132

See more in Financials

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