This single-family property is available as a short sale at Upper Dr. Based on our analysis of the current market conditions in Newton for Upper Dr and comparable listings, the estimated market value is $438,867. The property located at single-family has potential equity of $62,733. If purchased for rental purposes, the monthly rental rate could range between $1,840 and $2,500. For those interested in resale, the estimated profit from selling is $62,733. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Upper Dr are updated daily along with others in Newton, New Jersey.
Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.
Here is how to proceed:
Short sales can create opportunities to save big on the purchase of a property. Such agreements are entered into between a purchaser, a property owner, and the lender. Even though by definition a short sale means the lender is accepting less than the amount owed on the mortgage loan, it is not a certainty that the property is being purchased at a below market price. For that reason, you must still perform the same due diligence as you would on any other real estate transaction. The professional services of an appraiser, property inspector, and title agent are advised when structuring a short sale.
The estimated rental value for Upper Dr located in Newton, NJ is $2,170/month. Comparable homes around Upper Dr that are rentals have monthly ranges starting as low as $1,840 per month and as high as $2,500 per month. An owner looking to use this property as an investment could bring a return in the area of $1,840 - $2,500 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
|Start Date||End Date||Listing Type||Bank Name|
|05/09/19||03/04/20||Preforeclosure||WELLS FARGO BANK NA|
|11/10/08||09/06/09||Preforeclosure||LSF6 Mercury REO Investment...|
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