Haddon Township NJ: Real Estate Deal Notification Alert
Real Estate investors and Buyers interested in Haddon Township should take note, there are some great buys in Haddon Twp as of today 3/20/2009. I've found 1 or more that I think are very attractive because of Price, Location and Condition. Unfortunately, I'm prevented in discussing the specifics of these 1 or more properties because they are not my listings.
What I can do is talk about a hypothetical property as an example.
First Hypothetical Test: Price! In this hypothetical scenario we're assuming that the subject home is priced 20% below the most recent sold comparable home. It's also priced 35% below another similar home that recently sold in the area. In my world, that's a passing grade!
Second Hypothetical Test: Location. Haddon Township is a great community that has easy access to quality dining and entertainment, commuter rails and roads, and excellent schools. The walkscore for the community as a whole is 68. Approximately 9% of Haddon Townships residential properties are not owner occupied, according to the available public records. That translates to a favorable environment for investors looking to buy in a stable community where rental units will be at a premium. This hypothetical subject property would rent for approximately $1400 per month. That amount should cover the monthly expenses an investor would incur based on PITI. Another passing grade.
Third Hypothetical Test: Condition. For the purposes of this example, the home will be a 1.5 Story Bungalow. On the plus side, this home has generous room sizes, a basement where someone who is 6' could actually stand upright and an upstairs that provides the same person a good deal of headroom as well. Such space is not always typical of bungalows in this region. The kitchen is also a decent size and has ample cabinets. The obvious flaws with this property are dated carpet, dated bathroom, possible knob and tube wiring. Another passing grade in the world according to Matt!
If you are a Real Estate Investor or a Buyer who is handy and is looking for great deals in Haddon Township, send me an email, or give me a call (856-222-5829) and I will email you a list of properties that closely resemble my hypothetical property. I will just send you that 1 email, you won't get any additional emails from me, unless you request them, so there is no worry about being "dripped" to death. I wouldn't wait too long, hypothetical deals like these don't last long even in this market.