New Jersey’s top 10 cities for flipping:
#1: Gloucester City, New Jersey
Located by the Delaware River, Gloucester City’s proximity to Philadelphia by way of the Walt Whitman Bridge is a definite plus. Also, its easy access to the sports stadiums of Philadelphia (Phillies, Eagles and 76ers) works in its favor. Gloucester City ranks #1 due to its super-hot return on investment: 200%!
- Zip Code: 08030
- Q1 Home Flipping Rate (Pct of Sales): 25.6%
- Avg. Days to Flip: 229
- Flipping Gross Profit: $48,000
- Number of Flips: 11
- Gross ROI: 200%
#2: Willingboro, New Jersey
Willingboro boasts access to Philadelphia, and considering Philadelphia’s resurgence, Willingboro is benefitting with the highest number of flips, 35, in the first quarter of 2017.
- Zip Code: 08046
- Q1 Home Flipping Rate (Pct of Sales): 22.2%
- Avg Days to Flip: 205
- Flipping Gross Profit: $102,400
- Number of Flips: 35
- Gross ROI: 144.2%
#3: Roselle, New Jersey
Roselle’s real estate market is more than 20% accounted for by the fix-and-flip market.
- Zip Code: 07203
- Q1 Home Flipping Rate (Pct of Sales): 21%
- Avg. Days to Flip: 204
- Flipping Gross Profit: $133,050
- Number of Flips: 17
- Gross ROI: 144.7%
#4: Merchantville, New Jersey
Investors are able to flip their investments in 179 days in Merchantville, located in Camden County. Merchantville’s population of only 3,821 reported 12 flips for Q1 of 2017. Median home value is calculated to be $162,000 and distressed properties are selling for much less.
- Zip Code: 08109
- Q1 Home Flipping Rate (Pct of Sales): 17.9%
- Avg Days to Flip: 179
- Flipping Gross Profit: $103,950
- Number of Flips: 12
- Gross ROI: 157.5%