New Jersey Secondary Market #11204-1
45 Performing SFH W/High Cap Rates in Pemberton Townshi - 44 Properties

Owner Price

$3,080,000

Financials & Assumptions

  Financing

  Income

  Expenses

  Financials

Net Operating Income

$ 325,601

Expense Load

35.98 %

Total Cash Outlay

$ 3,080,000

Net Yield

10.57 %

Cash Flow

$ 325,601

Cash On Cash

10.57 %

Rate of Return

14.16 %


* This expense item is an estimate based on industry standards.



Cash Flow

30 year projections based on the rent and expense assumptions in the Financials & Assumptions section of this report.

Investor Equity

The build up of equity based on the price, mortgage balance, and home price appreciation assumptions used in the Financials & Assumptions section.

Listing Description

SUNBURY VILLAGE PEMBERTON TOWNSHIP Sunbury Village is a small housing development built in the mid 1950’s for military housing. It consists of approximately 300 side by side residential homes with a common shared wall, which equates to 150 individual ranch style dwellings. They are one story, semi-detached single family units situated on an average lot size of at least 50’ X 120’. There are some properties that are slightly irregular and are a little larger. Approximately 200 of the 300 units are investment properties and have tenants in place. PROPERTY DESCRIPTION: Living room 16’ 8” X 11’ 8’, Kitchen 10’ 3” X 11’ 3”, Master bedroom 11’ 5” X 12’ 8”, Bedroom 10’ 3” X 10’, Full Bath, Utility area, and exterior storage area. Total square footage for a double is 1,482 feet. 741 sq. feet per unit. 867 sq. feet with 3rd. Bedroom LOT SIZE: 50’ X 120’. Some slightly larger irregular lots. UNIT PARCELS: The units will be sold in predetermined packages of 10 units. All of the unit packages will have either one or possibly two, 3 bedroom units included along with the typical 2 bedroom houses. These 10 unit parcels have been divided up fairly to consist of homes totally remodeled and considered in excellent condition to properties considered to be in good condition. The packages will also have section eight rental assistance tenants distributed between all of the 10 unit packages. RENTAL RANGES: The list of properties reflects what the rentals on the properties are on a monthly basis as of 1/1/2017. A few of our current rentals are slightly below current market rates due to the fact that they are long term tenants. Current new rental rate for a 2 bedroom unit is $950.00 to $1,000.00 and a 3 bedroom is approximately $1,100.00 to $1,150.00. WHY AM I SELLING THE PROPERTIES IN PACKAGES OF 10? My goal would be to sell all of my properties to one large investor group however I realize that may not be possible. Thus if I did not set up the 10 unit packages then everyone would pick the 3 bedroom units or the units in perfect condition with the best location and this also gives all interested parties a chance to buy. Even though I prefer not go under groups of 10 for simplicity reasons I am open for discussion on smaller number of units. However in that case the 3 bedroom units only would be priced higher. DISTRIBUTION OF UNITS WITHIN A PACKAGE: I have evenly distributed a combination of units throughout each package taking into consideration 2, 3 bedroom units, newly renovated units with RCA funding and Section Eight tenants. RCA FINANCING AND RECENT AND CURRENT RENOVATIONS: There is a program known as Regional Contribution Act. Basically it is money given to a Municipality that they can use to improve the condition of their low to moderate income housing stock. This money comes as a grant to the property owner and does not have to be paid back provided the homes continue to be occupied by low to moderate income families. The money has been used for new siding, roofing, heating, electrical and heating systems. I have obtained funding for 20 of my units. These particular units are dispersed throughout the 6 packages of properties. TOWNSHIP INFRASTRUCTURE: Over the last 3 years the Township repaved all three streets in Sunbury Village. This project, along with the RCA project, has improved the overall appearance of the development. UTILITIES: Gas forced warm air heating system. Gas hot water heaters. Private Water Company. Gas, electric and water are tenant’s responsibility. City sewerage and trash pick-up is paid for by the landlord. RENTAL INFORMATION: All tenants are on a 1 year lease all at different times of the lease, which automatically renews to another 1 year lease with a 60 day notice to vacate after the first year expires. There is a 4% rent increase which I have not been enforcing so many of the rents are under market. Tenant Expenses: Electric & gas (cooking, hot water & heat) and water. Owners Approximate Monthly Expenses: (SINGLE UNIT) Taxes: Monthly $ 108.00 / Annual: $1,300.00 Trash pickup: Monthly $ 18.66 / Annual $ 224.00 Fire insurance: Monthly $ 15.00 / Annual $ 180.00 Liability insurance: Monthly $ 18.75 / Annual $ 225.00 Sewer: Monthly $ 30.00 / Annual $ 360.00 Total expenses: Monthly $182.41 / Annual $2,289.00

Listing Portfolio Map

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Listing Portfolio Properties (44)

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  • Pemberton, NJ 08068
  • 3.0 Beds / 1.0 Baths
  • Built in 1952
  • 883 Sqft / $79 / sqft
  • Monthly Rent: $950
  • Gross Yield: 16.3 %
  • Net Income: $6,766
  • Net Yield: 9.67%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $900
  • Gross Yield: 15.4 %
  • Net Income: $6,759
  • Net Yield: 9.66%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $950
  • Gross Yield: 16.3 %
  • Net Income: $7,464
  • Net Yield: 10.66%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $950
  • Gross Yield: 16.3 %
  • Net Income: $7,461
  • Net Yield: 10.66%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $950
  • Gross Yield: 16.3 %
  • Net Income: $7,383
  • Net Yield: 10.55%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $900
  • Gross Yield: 15.4 %
  • Net Income: $6,664
  • Net Yield: 9.52%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $750
  • Gross Yield: 12.9 %
  • Net Income: $5,274
  • Net Yield: 7.53%



  • Pemberton, NJ 08068
  • 2.0 Beds / 1.0 Baths
  • Built in 1952
  • 741 Sqft / $94 / sqft
  • Monthly Rent: $950
  • Gross Yield: 16.3 %
  • Net Income: $7,309
  • Net Yield: 10.44%



  • Pemberton, NJ 08068
  • 3.0 Beds / 1.0 Baths
  • Built in 1952
  • 883 Sqft / $79 / sqft
  • Monthly Rent: $1,150
  • Gross Yield: 19.7 %
  • Net Income: $8,921
  • Net Yield: 12.74%



  • Pemberton, NJ 08068
  • 3.0 Beds / 1.0 Baths
  • Built in 1952
  • 883 Sqft / $79 / sqft
  • Monthly Rent: $1,500
  • Gross Yield: 25.7 %
  • Net Income: $12,148
  • Net Yield: 17.35%


Asset Quality Report

HOME PRICE PERFORMANCE

Why is Home Price Appreciation important?

Long term home price appreciation is measured to establish an Average Annual Home Price Appreciation Rate. The data set used for this chart goes back to 1998 - the longest term measurement of institutional quality data available. It encompasses the mild period in the late 1990's, the price volatility of the 2000's and the beginnings of the recovery. The contrast of the county, state and nation provides insight into the relative price point and volatility of the subject market.

Data source: Zillow.com

Average Annual Appreciation Rates:

National Average

3.44 %

State Average

4.86 %

County Average

3.59 %


POPULATION CHANGE

Why is Population Change important?


MIGRATION PATTERNS

Why are Migration Patters important?


UNEMPLOYMENT RATE

Why is the Unemployment Rate important?


JOB GROWTH & DIVERSITY

Why is the Job Growth and Job Diversity important?



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