broker price opinion
BROKER PRICE OPINION This is a Drive-by Inspection
This is an Int/Ext Inspection
765 The City Drive South, Suite #300, Orange, CA 92868 P: 714-520-5737
F: 714-520-5499
Toll Free: 1-800-531-5737
Property Address
100 Lincoln St
Loan Number
FTF-100 Lincoln
City, State & Zip
Montclair, NJ 07042
Order Number
5000813400
Mortgagor's Name
Jonathan Lee
Date Ordered
1/28/2016
Occupany Status
Vacant
Company
Fund That Flip, Inc
Condition
Poor
Contact
Stephan Leccese
Data Source
Tax Record
Project Name
Recommended Inspections
Termite
Structural
Well
Septic
Systems
Physical Inspection
Other Item
Subject
Sale 1
Sale 2
Sale 3
Listing 1
Listing 2
Listing 3
Address
100 Lincoln St
9 Washington St
38 Warman St
7 Charles St
28 Mission St
117 Maple Ave
35 New St
City
Montclair
Montclair
Montclair
Montclair
Montclair
Montclair
Montclair
Proximity to Subject
0.505
0.828
0.662
0.445
0.181
0.447
MLS Numbers
3244803
3230501
3249223
3255148
3166480
3213917
Orig List Price
$165,000
$409,900
$465,000
$175,000
$339,900
$469,000
List Price @ Sale / CurrentLP
$165,000
$409,900
$465,000
$175,000
$239,900
$469,000
Sale Price
$172,500
$419,900
$455,000
Price per Sq. Ft.
$66.35
$155.52
$168.52
$67.31
$88.85
$173.70
Sale / Listing Date
$75.38
1/29/2016
9/28/2015
11/2/2015
9/22/2015
8/25/2014
4/17/2015
Days On Market
19
16
26
31
371
108
Finance Type
Cash
FHA
FHA
FHA
FHA
FHA
Sellers Concessions
none
none
none
none
none
none
none
Property Type
Two units
Two units
Twnhse
Two units
Two units
Two units
Two units
Construction Type
Frame
Vinyl
Vinyl
Brick
Brick
Frame
Brick
REO
Fair Market
Fair Market
Short Sale
Short Sale
Short Sale
Sales Type Lot Size
0.09
.06
.1
.13
.06
.13
.11
View
Residential
Residential
Residential
Residential
Residential
Residential
Residential
Location
Good
Good
Good
Good
Good
Good
Good
Condition
Poor
Poor
Good
Good
Poor
Average
Good
Year Built
1921
1925
1930
1980
1925
1927
1987
Style of Home
Colo
Above Grade Room Count Gross Living Area
Colo
Colo
Colo
Colo
Colo
Colo
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
12
6
10
4
13
4
12
7
12
4
12
4
12
6
2,640
2 Sq Ft
2,600
2 Sq Ft
2,700
2 Sq Ft
2,700
3.2 Sq Ft
2,600
3 Sq Ft
2,700
3 Sq Ft
2,700
Basement (% Fin)
0.00
0.00
0.00
0.00
80.00
80.00
80.00
Basement Sq Ft
750
725
750
0
700
750
725
Garage / Carport
0
0
2CD
2CA
0
0
2CD
HOA Dues
$0.00
APN/PIN/Parcel#
071304008 00033
4.00 Sq Ft
COMMENTS ON COMPARABLES Most Comp Sale #1
Sale #2
(Please describe how each comp compares to subject in location, amenities, and condition) S
E
I
PLEASE DO NOT USE THE SAME COMMENT FOR ALL COMPARABLES Great investment opportunity! This 2 family home features large eat-in kitchens, spacious living rooms and bedrooms, baths, unfinished basement, driveway, back yard...CUSTOMIZE IT FOR YOUR OWN TASTE!
Well maintained 2 family home - good for investor or owner occupied with income. Freshly painted new windows and updated kitchens.Separate utilities: 1st floor tenant owns w/d: hook up for others Spacious bright rooms - storage in basement; quiet street -
Sale #3
WELL MAINTAINED TWO FAMILY. 1ST FLOOR UNIT HAS 3 BEDRMS COMBINE WITH GROUND FLOOR LEVEL WITH EXTRA ONE BEDROOM+FAMILY ROOM+FULL BATH. 2ND FLOOR UNIT FEATURES 3 BEDRMS+1.5 BATH+2 CAR BUILT-IN GARAGE
List #1
solid built fulll brick 2 family. Features plenty of space in both units with hwd floors & newer windows throughout. Tremendous potential w short walk to NYC transportation, shops & park.
Listing agent's name Eduardo Masferre List #2
973-980-3498
$100,000 REDUCTION FOR QUICK SALE!!! 2 FAMILY HOME,FINISHED WALKOUT BSMNT W/CERAMIC TILE FLRS,ADDITIONAL ROOMS/FULL BATH THAT CAN BE COMBINED WITH UNIT 1 OR USE AS FAMILY ROOM/GUEST ROOMS FOR OWNER. ATTIC IS ALSO FINISHED WITH 2 ADDITIONAL ROOMS, WITH HE
Listing agent's name Ralph Barone List #3
Listing agent's number
Listing agent's number
973-429-0990
this is a short sale, lender approval required.Subject is great condition, well maintained 2 family house.
Listing agent's name Carlos Jesus **** S = Superior, E = Equal, I = Inferior ****
Listing agent's number
201-997-4425
Subject Property Information Currently listed?
Previous DOM
Original List Price
Current List Price
Listing Company
No Explain any functional obsolescence of subject property.
missing appliances, plumbing and electrical
Identify any positive or negative site/location influences.
Great location, good neighborhood
COMMENTS Due to Lack of comparables w/ similar characteristics, it is necessary to travel back in time to 12 months and seek comarables w/ similar characteristics, condition and over all amenities.I've used 3 different types of conditions for the sold comps. From poor which is similar in condition to the subject to good which represents what the future value of the subject would be once it is renovated. is a large top/bottom 2 family home. Strong Foundation, great location. At it's time this was a beautiful home. Currently it is completely gutted and in need of complete re-hab. Needs all new plumbing, electrical, needs newer bathroom, kitchens heating system, radiators have been removed and need to be re-installed.
Estimate of repairs needed for subject property Interior
Exterior
Painting
$ 12,600
Painting
$ 0
Structural
$ 49,000
Structural
$ 9,800
Appliances
$ 3,500
Landscaping
$ 3,500
Utilities
$ 12,500
Roof
$ 9,800
Carpet/Floors
$ 0
Windows
$ 13,300
Other
$ 12,000
Other
$ 14,000
Cleaning/Trash Removal
$ 0
Do you recommend repairs?
Yes
No
Repair Total $ 140,000 Auditor's Notes
Neighborhood Data Sales Price:
Low
$175,000
High
$685,000
Avg
Location
Urban
Suburban
Rural
Property Values
Increasing
Stable
Decreasing
Demand/Supply
Shortage
In Balance
Over Supply
Growth Rate
Rapid
Stable
Slow
Economy
Increasing
Stable
Decreasing
Marketing Time
Under 3 Mos.
3-6 Mos.
Over 6 Mos.
Area # of Listings:
REO Driven 14
Price Range:
# of Sales:
14
# of REO Sales:
5
7 Yes
Low:
3
$ 3,500.00
# of Comparable Rental Listings: New Construction
% increasing/decreasing per month
Boarded/Vacant Homes # of REO Listings:
Estimated Monthly Rental Value:
$425,000
No
$725,000
If yes
Res High:
Estimated % of owners and tenants in neighborhood
Comm $1,500,000 90
% Owners
10
% Tenants
Market Values Based On a 90-120 Day Marketing Time As Is Value
$ 199,000
Suggested As Is List Price
$ 219,000
Repaired Value
$ 449,000
Suggested Repaired List Price
$ 469,000
30 Day Quick Sale Value
$ 149,000
Suggested Strategy
As-Is
Agent / Broker Information Name:
Reetesh Sood
Yrs. of Experience:
14
Date Completed:
2/1/2016
Company:
America's Elite Realty
# of Yrs. Selling REO:
9
# of REO Sold in Last 12 Mos.:
25
Address:
137 Gertrude Ave
City:
Paramus
State:
NJ
Phone:
(201)432-1600
Email:
[email protected]
Miles:
15
Distance from agent's location to subject property:
Zip:
07652
DISCLAIMER
This Broker Price Opinion is not an appraisal and it is not an inspection report. This Broker Price Opinion is intended only for the benefit of the Addressee for the purpose of assisting buyers or sellers or prospective buyers or sellers in deciding the listing, offering, or sales price of the real property or for lending purposes in a transaction other than a federally-related transaction. This Broker Price Opinion is not governed by the Real Property Appraiser Act. The Broker Price Opinion agent is not acting as a licensed contractor or inspector. Notwithstanding any preprinted language to the contrary, this opinion is not an appraisal of the market value of the property. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained.
100 Lincoln St, Montclair, NJ 07042 Property Map
Address Verification - House Num
100 Lincoln St, Montclair, NJ 07042 Front View
100 Lincoln St, Montclair, NJ 07042 Street View
100 Lincoln St, Montclair, NJ 07042 Street View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Back View
Living Room
Living Room
Living Room
Family Room
Dining Room
Dining Room
Dining Room
Kitchen
Bedroom #1
Bedroom #2
Bedroom #3
Bedroom #4
Bathroom #1
Bathroom #2
Bathroom #3
Basement
Basement
Basement
Basement
Bedroom #6
Bedroom #6
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
9 Washington St, Montclair, NJ 07042 Comp Sale #1
38 Warman St, Montclair, NJ 07042 Comp Sale #2
7 Charles St, Montclair, NJ 07042 Comp Sale #3
28 Mission St, Montclair, NJ 07042 Listing Comp #1
117 Maple Ave, Montclair, NJ 07042 Listing Comp #2
35 New St, Montclair, NJ 07042 Listing Comp #3
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Others
Repair: Interior Others
Repair: Interior Others
Repair: Interior Others
Repair: Exterior Windows
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
This is an Int/Ext Inspection
765 The City Drive South, Suite #300, Orange, CA 92868 P: 714-520-5737
F: 714-520-5499
Toll Free: 1-800-531-5737
Property Address
100 Lincoln St
Loan Number
FTF-100 Lincoln
City, State & Zip
Montclair, NJ 07042
Order Number
5000813400
Mortgagor's Name
Jonathan Lee
Date Ordered
1/28/2016
Occupany Status
Vacant
Company
Fund That Flip, Inc
Condition
Poor
Contact
Stephan Leccese
Data Source
Tax Record
Project Name
Recommended Inspections
Termite
Structural
Well
Septic
Systems
Physical Inspection
Other Item
Subject
Sale 1
Sale 2
Sale 3
Listing 1
Listing 2
Listing 3
Address
100 Lincoln St
9 Washington St
38 Warman St
7 Charles St
28 Mission St
117 Maple Ave
35 New St
City
Montclair
Montclair
Montclair
Montclair
Montclair
Montclair
Montclair
Proximity to Subject
0.505
0.828
0.662
0.445
0.181
0.447
MLS Numbers
3244803
3230501
3249223
3255148
3166480
3213917
Orig List Price
$165,000
$409,900
$465,000
$175,000
$339,900
$469,000
List Price @ Sale / CurrentLP
$165,000
$409,900
$465,000
$175,000
$239,900
$469,000
Sale Price
$172,500
$419,900
$455,000
Price per Sq. Ft.
$66.35
$155.52
$168.52
$67.31
$88.85
$173.70
Sale / Listing Date
$75.38
1/29/2016
9/28/2015
11/2/2015
9/22/2015
8/25/2014
4/17/2015
Days On Market
19
16
26
31
371
108
Finance Type
Cash
FHA
FHA
FHA
FHA
FHA
Sellers Concessions
none
none
none
none
none
none
none
Property Type
Two units
Two units
Twnhse
Two units
Two units
Two units
Two units
Construction Type
Frame
Vinyl
Vinyl
Brick
Brick
Frame
Brick
REO
Fair Market
Fair Market
Short Sale
Short Sale
Short Sale
Sales Type Lot Size
0.09
.06
.1
.13
.06
.13
.11
View
Residential
Residential
Residential
Residential
Residential
Residential
Residential
Location
Good
Good
Good
Good
Good
Good
Good
Condition
Poor
Poor
Good
Good
Poor
Average
Good
Year Built
1921
1925
1930
1980
1925
1927
1987
Style of Home
Colo
Above Grade Room Count Gross Living Area
Colo
Colo
Colo
Colo
Colo
Colo
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
Tot
Bdrm Bth
12
6
10
4
13
4
12
7
12
4
12
4
12
6
2,640
2 Sq Ft
2,600
2 Sq Ft
2,700
2 Sq Ft
2,700
3.2 Sq Ft
2,600
3 Sq Ft
2,700
3 Sq Ft
2,700
Basement (% Fin)
0.00
0.00
0.00
0.00
80.00
80.00
80.00
Basement Sq Ft
750
725
750
0
700
750
725
Garage / Carport
0
0
2CD
2CA
0
0
2CD
HOA Dues
$0.00
APN/PIN/Parcel#
071304008 00033
4.00 Sq Ft
COMMENTS ON COMPARABLES Most Comp Sale #1
Sale #2
(Please describe how each comp compares to subject in location, amenities, and condition) S
E
I
PLEASE DO NOT USE THE SAME COMMENT FOR ALL COMPARABLES Great investment opportunity! This 2 family home features large eat-in kitchens, spacious living rooms and bedrooms, baths, unfinished basement, driveway, back yard...CUSTOMIZE IT FOR YOUR OWN TASTE!
Well maintained 2 family home - good for investor or owner occupied with income. Freshly painted new windows and updated kitchens.Separate utilities: 1st floor tenant owns w/d: hook up for others Spacious bright rooms - storage in basement; quiet street -
Sale #3
WELL MAINTAINED TWO FAMILY. 1ST FLOOR UNIT HAS 3 BEDRMS COMBINE WITH GROUND FLOOR LEVEL WITH EXTRA ONE BEDROOM+FAMILY ROOM+FULL BATH. 2ND FLOOR UNIT FEATURES 3 BEDRMS+1.5 BATH+2 CAR BUILT-IN GARAGE
List #1
solid built fulll brick 2 family. Features plenty of space in both units with hwd floors & newer windows throughout. Tremendous potential w short walk to NYC transportation, shops & park.
Listing agent's name Eduardo Masferre List #2
973-980-3498
$100,000 REDUCTION FOR QUICK SALE!!! 2 FAMILY HOME,FINISHED WALKOUT BSMNT W/CERAMIC TILE FLRS,ADDITIONAL ROOMS/FULL BATH THAT CAN BE COMBINED WITH UNIT 1 OR USE AS FAMILY ROOM/GUEST ROOMS FOR OWNER. ATTIC IS ALSO FINISHED WITH 2 ADDITIONAL ROOMS, WITH HE
Listing agent's name Ralph Barone List #3
Listing agent's number
Listing agent's number
973-429-0990
this is a short sale, lender approval required.Subject is great condition, well maintained 2 family house.
Listing agent's name Carlos Jesus **** S = Superior, E = Equal, I = Inferior ****
Listing agent's number
201-997-4425
Subject Property Information Currently listed?
Previous DOM
Original List Price
Current List Price
Listing Company
No Explain any functional obsolescence of subject property.
missing appliances, plumbing and electrical
Identify any positive or negative site/location influences.
Great location, good neighborhood
COMMENTS Due to Lack of comparables w/ similar characteristics, it is necessary to travel back in time to 12 months and seek comarables w/ similar characteristics, condition and over all amenities.I've used 3 different types of conditions for the sold comps. From poor which is similar in condition to the subject to good which represents what the future value of the subject would be once it is renovated. is a large top/bottom 2 family home. Strong Foundation, great location. At it's time this was a beautiful home. Currently it is completely gutted and in need of complete re-hab. Needs all new plumbing, electrical, needs newer bathroom, kitchens heating system, radiators have been removed and need to be re-installed.
Estimate of repairs needed for subject property Interior
Exterior
Painting
$ 12,600
Painting
$ 0
Structural
$ 49,000
Structural
$ 9,800
Appliances
$ 3,500
Landscaping
$ 3,500
Utilities
$ 12,500
Roof
$ 9,800
Carpet/Floors
$ 0
Windows
$ 13,300
Other
$ 12,000
Other
$ 14,000
Cleaning/Trash Removal
$ 0
Do you recommend repairs?
Yes
No
Repair Total $ 140,000 Auditor's Notes
Neighborhood Data Sales Price:
Low
$175,000
High
$685,000
Avg
Location
Urban
Suburban
Rural
Property Values
Increasing
Stable
Decreasing
Demand/Supply
Shortage
In Balance
Over Supply
Growth Rate
Rapid
Stable
Slow
Economy
Increasing
Stable
Decreasing
Marketing Time
Under 3 Mos.
3-6 Mos.
Over 6 Mos.
Area # of Listings:
REO Driven 14
Price Range:
# of Sales:
14
# of REO Sales:
5
7 Yes
Low:
3
$ 3,500.00
# of Comparable Rental Listings: New Construction
% increasing/decreasing per month
Boarded/Vacant Homes # of REO Listings:
Estimated Monthly Rental Value:
$425,000
No
$725,000
If yes
Res High:
Estimated % of owners and tenants in neighborhood
Comm $1,500,000 90
% Owners
10
% Tenants
Market Values Based On a 90-120 Day Marketing Time As Is Value
$ 199,000
Suggested As Is List Price
$ 219,000
Repaired Value
$ 449,000
Suggested Repaired List Price
$ 469,000
30 Day Quick Sale Value
$ 149,000
Suggested Strategy
As-Is
Agent / Broker Information Name:
Reetesh Sood
Yrs. of Experience:
14
Date Completed:
2/1/2016
Company:
America's Elite Realty
# of Yrs. Selling REO:
9
# of REO Sold in Last 12 Mos.:
25
Address:
137 Gertrude Ave
City:
Paramus
State:
NJ
Phone:
(201)432-1600
Email:
[email protected]
Miles:
15
Distance from agent's location to subject property:
Zip:
07652
DISCLAIMER
This Broker Price Opinion is not an appraisal and it is not an inspection report. This Broker Price Opinion is intended only for the benefit of the Addressee for the purpose of assisting buyers or sellers or prospective buyers or sellers in deciding the listing, offering, or sales price of the real property or for lending purposes in a transaction other than a federally-related transaction. This Broker Price Opinion is not governed by the Real Property Appraiser Act. The Broker Price Opinion agent is not acting as a licensed contractor or inspector. Notwithstanding any preprinted language to the contrary, this opinion is not an appraisal of the market value of the property. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained.
100 Lincoln St, Montclair, NJ 07042 Property Map
Address Verification - House Num
100 Lincoln St, Montclair, NJ 07042 Front View
100 Lincoln St, Montclair, NJ 07042 Street View
100 Lincoln St, Montclair, NJ 07042 Street View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Side View
100 Lincoln St, Montclair, NJ 07042 Back View
Living Room
Living Room
Living Room
Family Room
Dining Room
Dining Room
Dining Room
Kitchen
Bedroom #1
Bedroom #2
Bedroom #3
Bedroom #4
Bathroom #1
Bathroom #2
Bathroom #3
Basement
Basement
Basement
Basement
Bedroom #6
Bedroom #6
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
100 Lincoln St, Montclair, NJ 07042 Misc. Photo
9 Washington St, Montclair, NJ 07042 Comp Sale #1
38 Warman St, Montclair, NJ 07042 Comp Sale #2
7 Charles St, Montclair, NJ 07042 Comp Sale #3
28 Mission St, Montclair, NJ 07042 Listing Comp #1
117 Maple Ave, Montclair, NJ 07042 Listing Comp #2
35 New St, Montclair, NJ 07042 Listing Comp #3
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Painting
Repair: Interior Others
Repair: Interior Others
Repair: Interior Others
Repair: Interior Others
Repair: Exterior Windows
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
Repair: Exterior Others
