40 Penn St

Penns Grove, NJ 08069
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3 bd, 1 ba | 1,040 sqft | Built in 1955

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List Price
$68,000

Initial Investment

$19,535

Purchase Price

$66,000

Down Payment

25%

Rent

$1,200

Total Return

$27,858

Annualized Return

21.4%

Cap Rate

8.8%

Gross Yield

21.8%

Cash Flow

$1,415

Appreciation

5.9%
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Features

Occupancy

Occupied

Lease Start

08/04/2017

Lease End

08/04/2019

Lot Size

5,240

HOA

None

Flood Risk

Not Required

  • Attractive cap rate, meets 1% rule
  • Priced below market value
  • Tenant is Section 8, HUD pays $990 and tenant pays $210
  • 15 miles to downtown Wilmington, Delaware. 30 miles to downtown Philadelphia, Pennsylvania.

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Annual Financial Highlights

Expected Rent

$13,680

Expenses

-$4,877

Property Taxes

-$3,800

Loan Payments

-$3,588

Net Cash Flow

$1,415

See more in Financials

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