7618 Joseph St Millville, NJ 08332
Estimated payment $675/month
Highlights
- No HOA
- Forced Air Heating System
- Mobile Home
- Luxury Vinyl Plank Tile Flooring
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 **7618 Joseph St**, offering a prime example of steady rental income. This charming home has been leased by the same tenant for few years, ensuring minimal vacancy risk and dependable revenue. The home itself boasts an **open-concept living area**, 3 spacious bedrooms, a full bath and half bath in the primary bedroom, all nestled on a beautifully landscaped lot with mature trees and two to three off-street parking spaces. Cash only.
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
Compass New Jersey, LLC - Moorestown License #RS370988 Listed on: 11/09/2024
Property Details
Home Type
- Mobile/Manufactured
Est. Annual Taxes
- $760
Year Built
- Built in 1970
Lot Details
- 5,998 Sq Ft Lot
- Lot Dimensions are 60.00 x 100.00
Home Design
- Flat Roof Shape
- Frame Construction
Interior Spaces
- 860 Sq Ft Home
- Property has 1 Level
- Luxury Vinyl Plank Tile Flooring
- Laundry on main level
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 1 Full Bathroom
Parking
- 2 Parking Spaces
- 2 Driveway Spaces
Mobile Home
- Single Wide
Utilities
- Forced Air Heating System
- Well
- Electric Water Heater
- On Site Septic
Community Details
- No Home Owners Association
- Laurel Lakes Subdivision
Listing and Financial Details
- Tax Lot 00461
- Assessor Parcel Number 02-00159-00461
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 | $761 | $25,400 | $10,200 | $15,200 |
| 2024 | $761 | $25,400 | $10,200 | $15,200 |
| 2023 | $752 | $25,400 | $10,200 | $15,200 |
| 2022 | $743 | $25,400 | $10,200 | $15,200 |
| 2021 | $732 | $25,400 | $10,200 | $15,200 |
| 2020 | $714 | $25,400 | $10,200 | $15,200 |
| 2019 | $1,538 | $59,000 | $29,200 | $29,800 |
| 2018 | $1,543 | $59,000 | $29,200 | $29,800 |
| 2017 | $1,484 | $59,000 | $29,200 | $29,800 |
| 2016 | $1,434 | $59,000 | $29,200 | $29,800 |
| 2015 | $1,445 | $59,000 | $29,200 | $29,800 |
| 2014 | $1,387 | $59,000 | $29,200 | $29,800 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/09/2024 11/09/24 | For Sale | $115,000 | 0.0% | $134 / Sq Ft |
| 07/18/2012 07/18/12 | Rented | -- | -- | -- |
| 06/18/2012 06/18/12 | Under Contract | -- | -- | -- |
| 06/07/2012 06/07/12 | For Rent | -- | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $12,500 | -- |
Source: Bright MLS
MLS Number: NJCB2021300
APN: 02-00159-0000-00461
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