6415 Magnolia Dr Millville, NJ 08332
Estimated payment $605/month
Highlights
- No HOA
- Luxury Vinyl Plank Tile Flooring
- Mobile Home
- Ramp on the main level
- Forced Air Heating System
About This Home
**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 potential steady rental income. This charming home has been recently been vacated and refreshed for its next occupant. With fresh paint, and updated Luxury Vinyl Plank flooring throughout, it offers a cozy and modern vibe. The exterior has also been freshly painted offering sharp curb appeal. 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. This property is listed for rent by owner right now but is also available to be sold independent of the portfolio to an owner occupant. Cash only and As-Is. 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 Agent
(856) 322-2964 jennifer.rothenberger@foxroach.com Compass New Jersey, LLC - Moorestown License #RS370988 Listed on: 11/09/2024
Property Details
Home Type
- Mobile/Manufactured
Est. Annual Taxes
- $637
Year Built
- Built in 1968 | Remodeled in 2024
Lot Details
- 5,998 Sq Ft Lot
- Lot Dimensions are 60.00 x 100.00
Home Design
- Flat Roof Shape
- Frame Construction
Interior Spaces
- 672 Sq Ft Home
- Property has 1 Level
- Luxury Vinyl Plank Tile Flooring
- Laundry on main level
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 1 Full Bathroom
Parking
- 3 Parking Spaces
- 3 Driveway Spaces
Utilities
- No Cooling
- Forced Air Heating System
- Well
- Electric Water Heater
- On Site Septic
Additional Features
- Ramp on the main level
- Single Wide
Listing and Financial Details
- Tax Lot 06563
- Assessor Parcel Number 02-00111-06563
Community Details
Overview
- No Home Owners Association
- Laurel Lakes Subdivision
Pet Policy
- No Pets Allowed
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $638 | $21,300 | $10,200 | $11,100 |
| 2024 | $638 | $21,300 | $10,200 | $11,100 |
| 2023 | $630 | $21,300 | $10,200 | $11,100 |
| 2022 | $623 | $21,300 | $10,200 | $11,100 |
| 2021 | $614 | $21,300 | $10,200 | $11,100 |
| 2020 | $599 | $21,300 | $10,200 | $11,100 |
| 2019 | $1,376 | $52,800 | $29,200 | $23,600 |
| 2018 | $1,381 | $52,800 | $29,200 | $23,600 |
| 2017 | $1,328 | $52,800 | $29,200 | $23,600 |
| 2016 | $1,283 | $52,800 | $29,200 | $23,600 |
| 2015 | $1,293 | $52,800 | $29,200 | $23,600 |
| 2014 | $1,241 | $52,800 | $29,200 | $23,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/09/2024 11/09/24 | For Sale | $105,000 | -- | $156 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $15,000 | -- |
Source: Bright MLS
MLS Number: NJCB2021284
APN: 02-00111-0000-06563
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