107 Lotus Ave, Voorhees NJ 08043

107 Lotus Ave, Voorhees, NJ 08043

Singlefamily: 3 bedrooms , 1.5 bathrooms

Year built: 1970, Size: 2204 SF

Investment strategy: Fix and Flip

Purchase Price$ 299,000

Rehab Estimate$ 19,503

Project Profit$ 45,785

After Repair Value$ 379,467

Investment Summary

After Repair Value	$ 379,467
Calculated Project Profit	$ 45,785
70% Rule 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV. 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV.	83.93 %
Return on Investment	14.38 %
Project Term	0 months

Financial Breakdown

Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 318,503
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 318,503

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 299,000
Buying Costs	$ 0
Total	$ 299,000

Repair Costs
Repair Costs Lump Sum	$ 19,503
Total	$ 19,503

Holding Costs
Monthly Holding Costs	$ 0
Total Months Held	0
Total	$ 0

Selling Costs
Commissions (4%)	$ 15,179
Selling Costs	$ 0
Total	$ 15,179

MULTIPLE OFFERS RECEIVED - SELLER IS ASKING FOR HIGHEST AND BEST BY 4/25 @5:00. Welcome to this awesome opportunity for you at 107 Lotus Avenue !This lovely colonial split level home with its partial brick facade and inviting front porch is ready for the new owners to make it their own. It is located in Ashland Terrace, a charming neighborhood in desirable Voorhees. In addition, the house is steps away from the Ashland Patco Station, and as a result, the new owner can enjoy all the perks of living in Voorhees , with the luxury of having an easy commute to Philadelphia for work or entertainment. Located close to 295, and just minutes to fabulous shopping, dining, gyms, and more, the home offers you the convenience you will love. The house is ready for a new owner to move in and make it their own. This is a freshly painted, neutral toned space, the upper level open floor plan boasts a kitchen, dining area and living room ready to accommadate your lifestlye. The upper level is completed with three bedrooms, plenty of closet space, and a full bath, A sliding door in the dining area leads to a balcony with a fabulous view of the oversized backyard. The lower level has a welcoming brick fireplace in the spacious familyroom. There is a half bath that can easily be converted to a full bath using space from the adjacent utility room. This level also includes a bonus room with large built-ins and closets that provide a great deal of storage. Wait till you see the size of the laundry room! It is a large space and has much potential! The owner converted the garage to a workshop and it is easily accessible from the bonus room. The large yard is perfect for entertaining or just relaxing. This property is an Estate Sale. The property is being sold AS-IS. Seller is requesting the buyer/ buyer agent obtain the township CO and obtain and deliver a new raised seal survey, to Voorhees Township as required . Contents of the sheds will stay. Make an appointment to see this home with all its potential and be that smart buyer ready to take it on. The potential is here waiting for a new owner to make it their own! PLEASE NOTE there are two virtually staged photos included in the listing photos. The furniture and props are NOT physically in the property. There are two adjacent vacant lots for sale as well. 101 Lotus and 105 Lotus.

Purchase Price	$ 299,000
Address	107 Lotus Ave , Voorhees, 08043, NJ
MLS^® #	NJCD2046078
Listing Agent	Marianne Twist
Listing Broker	Keller Williams Realty - Cherry Hill
Year Built	1970
Type	Singlefamily
Size	2204 SF
Bedrooms	3
Bathrooms	1.5

107 Lotus Ave Voorhees, NJ 08043

$ 379,467

Property ARV
Singlefamily

Bldg type
2,204

SqFt
$ 172

per SqFt
3

Beds
1.5

Baths

#	Property address	Distance	Beds	Baths	SqFt	Bldg type	Date sold	Sale price	$/SqFt
1	218 Fairview Ave	0.3mi	4	2	1,722	single_family	4/14/2023	$ 375,000	$ 218
2	110 Acorn Ln	0.4mi	4	2.5	2,026	single_family	3/21/2023	$ 381,000	$ 188
3	505 E Evesham Rd	0.8mi	4	2	1,577	single_family	1/24/2023	$ 399,000	$ 253
Average:								$ 385,000	$ 220

Financial Breakdown

Purchase Price	$ 299,000
Purchase Costs	$ 0
Repair Costs	$ 19,503
Holding Costs	$ 0
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 318,503
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 318,503
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 0
Cash During Flip Cash During Flip Shows the cash amount remaining to fund the Flip. Cash During Flip Shows the cash amount remaining to fund the Flip.	$ 318,503

Project Returns

Gross Rehab Profit	$ 45,785
Return on Investment	14.38 %
Annualized ROI	0.00 %
Internal Rate of Return	N/A

Timeline Assumptions

Rehab Period	0 months
Listing Period	0 months
Total Holding Period	0 months

There is no financing selected in this deal.

This charts shows the influence of leverage on Return on Investment (ROI). Purchase price is considered as the Value in the LTV ratio here. The calculation considers all buying, holding, repair and selling costs, purchase price, ARV and an interest-only loan with rate of 12.00% p.a.

Month	0
Purchase/Sale	$ 379,467
Closing Costs	$ -15,179
Holding Costs
Rehab Draws
Cash Flow	$ -299,000

Sale Proceeds Breakdown

After Repair Value	$ 379,467
Cost of Sale Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other. Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other.	$ 15,179
Repair Costs	$ 19,503
Holding Costs (0 months) Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included. Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included.	$ 0
Financing Costs Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs. Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs.	$ 0
Purchase Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc. Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc.	$ 299,000
Net Rehab Profit	$ 45,785

Property Report: 107 Lotus Ave, Voorhees FIX & FLIP PUBLISHED

Property Report :

107 Lotus Ave, Voorhees, NJ 08043

Executive Summary