6415 Magnolia Drive
MILLVILLE, NJ 08332
- 2 beds
- 1 bath
- 672 sqft
- 5,998 sqft lot
- $156 per sqft
- 1968 build
**Investor Opportunity: Income-Generating Portfolio of 20 Rental Properties for $2,000,000** Presenting an exceptional investment opportunity in the highly sought-after Laurel Lakes community! This portfolio includes 20 well-maintained, tenant-occupied properties, all strategically located within the same thriving neighborhood. With a consistent and reliable tenant base, these homes provide immediate cash flow and long-term stability. One property within this portfolio is **6415 Magnolia**, offering a prime example of steady rental income. This charming home has been recently leased by a well qualified tenant, ensuring minimal vacancy risk and dependable revenue. The home itself boasts an **open-concept living area**, 2 spacious bedrooms, and a full bath, all nestled on a beautifully landscaped lot with mature trees and two off-street parking spaces. Key Investment Highlights: - **Portfolio Price**: $2,000,000 for 20 properties - **Annual Gross Income**: $240,000 - **12% CAP Rate**: Strong return potential in a stable, in-demand location - **Tenant Stability**: Long-term, reliable tenants in place across all properties - **Maintenance & Management**: Well-maintained homes with minimal upkeep required This portfolio presents a rare opportunity to secure a high-performing asset in a community with ongoing rental demand and future growth potential. With a strong CAP rate and consistent cash flow, this investment is ideal for serious investors seeking to expand their holdings in a thriving market. Don’t miss out on this lucrative opportunity in Laurel Lakes! Portfolio includes MLS# NJCB2021228, NJCB2021246, NJCB2021260, NJCB2021276, NJCB2021262, NJCB2021278, NJCB2021280, NJCB2021286, NJCB2021284, NJCB2021288, NJCB2021290, NJCB2021294, NJCB2021296, NJCB2021298, NJCB2021300, NJCB2021302, NJCB2021304, NJCB2021306, NJCB2021308, and NJCB2021310.
Listing courtesy of BRIGHT / Compass New Jersey, LLC - Moorestown
Last checked:
Checking…
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Last updated Nov 10, 2024
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MLS# NJCB2021284 —
The Building
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Year Built:1968
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Year Built Source:Assessor
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Year Major Reno/Remodel:2024
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New Construction:No
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Construction Materials:Frame
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Structure Type:Mobile Pre 1976
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Architectural Style:Modular/Pre-Fabricated
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Levels:1
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Roof:Flat
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Accessibility Features:Ramp - Main Level
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Basement:No
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Mobile Home Type:Single Wide
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Total SqFt Source:Assessor
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Total Below Grade SqFt Source:Assessor
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Above Grade Finished Area Units:Square Feet
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Above Grade Finished SqFt:672
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Above Grade Finished SqFt Source:Assessor
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Below Grade Finished Area Units:Square Feet
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Below Grade Unfinished Area Units:Square Feet
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Below Grade Finished SqFt Source:Assessor
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Below Grade Unfinished SqFt Source:Assessor
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Tax Total Finished SqFt:672
Interior
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Flooring Type:Luxury Vinyl Plank
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Fireplace:No
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Living Area SqFt Source:Assessor
Room Dimensions
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Total SqFt:672
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Living Area SqFt:672 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Conventional
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Possession:Negotiable
Location
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Directions:Corner of Magnolia and Olive
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Latitude:39.32913200
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Longitude:-75.03277500
The Property
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Property Type:Residential
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Lot Size Units:Square Feet
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Lot Size Acres:0.14
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Lot Size Source:Assessor
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Lot Size Dimensions:60.00 x 100.00
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Lot Dimensions Source:Assessor
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Lot SqFt:5,998 Sqft
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Exclusions:Tenant belongings
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Zoning:VR2
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Other Structures:Above Grade, Below Grade
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Water View:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Ground Rent Exists:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (856) 322-2964
- Office phone:
- (856) 214-2639
Taxes
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Tax ID Number:02-00111-06563
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Tax Year:2023
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Tax Lot:06563
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Tax Annual Amount:$629
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Tax Assessed Value:$21,300
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Year Assessed:2023
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Total Taxes Payment Frequency:Annually
Beds
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Bedrooms:2
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Bedrooms Main Level:2
Baths
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Total Baths:1
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Full Baths:1
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Main Level Baths:1.00
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Main Level Full Baths:1
Heating & Cooling
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Cooling Type:None
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Central Air:No
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Cooling Fuel:None
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Heating:Yes
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Heating Type:Forced Air
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Heating Fuel:Electric, Natural Gas
Utilities
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Sewer/Septic:On Site Septic
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Hot Water:Electric
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Water Source:Well
Appliances
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Laundry Type:Main Floor
Schools
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School District Name:Millville Area
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School District Source:Listing Agent
The Community
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Subdivision Name:Laurel Lakes
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Senior Community:No
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Pool:No Pool
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Association Recreation Fee:No
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HOA:No
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Condo/Coop Association:No
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Municipal Trash:No
Parking
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Total Garage and Parking Spaces:3
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Garage:No
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Type of Parking:Driveway
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Driveway - # of Spaces:3
Extra Units
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Vacation Rental:No
Monthly cost estimate
Asking price
$105,000
Expense | Monthly cost |
---|---|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$562
|
Taxes | $52 |
Insurance | $28 |
Utilities | $176 See report |
Total | $818/mo.* |
*This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/8/24
Nov 8, 2024
|
Listed / Active | BRIGHT | $105,000 |