280 Birchwood Rd, New Milford, NJ 07646
Great opportunity in New Milford, NJ.
This Manville home consists 4 beds, 3 baths, 1,515 sq. ft., built in 1940.
As-is value:
$550,000
After Repair Value:
$920,000
Investment Duration:
26 Days
Return on Investment:
60% ROI
Rehab Cost
$133,000
Agreed Purchase Price:
$870,000
IMPORTANT NOTICE: Investment Security & Exit Structure
A signed Purchase Agreement is in place with a committed End Buyer, establishing a defined exit for the project. The End Buyer has also deposited a 20% non-refundable EMD, which is being held by Sunnyside Title Company in escrow.
If the End Buyer fails to close following completion of the renovation, the Joint Venture Contract Agreement requires StrandPark Properties Limited to pay the investor their full initial investment plus the agreed return on the exact payment date specified in the agreement, regardless of when the property ultimately sells.
The combination of the signed End-Buyer Agreement, non-refundable EMD held in escrow, and contractual payment obligation provides a clearly defined exit structure and contractual protection for the investor.
No Additional Capital Calls: The Operating Partner is solely responsible for any cost overruns, protecting the investor from being asked for further funds beyond the initial $133,000 commitment.
Information Rights: Weekly financial reporting requirements ensure complete transparency, allowing the investor to monitor the project’s financial health in real-time.
JOINT VENTURE CONTRACT AGREEMENT FORM
Lead Contractor
Michael Scott
Rehab Cost Breakdown
| Renovation Item | Budget |
| Kitchen modernization + cabinetry/countertops | $21,000 |
| Samsung smart double-door refrigerator | $4,000 |
| 3 bathroom renovations | $22,000 |
| Interior paint & drywall/patching | $14,000 |
| Flooring/refinishing & trim | $11,000 |
| Electrical updates & fixtures | $8,000 |
| Plumbing updates | $6,000 |
| Full HVAC replacement | $14,000 |
| Exterior repairs & paint | $8,000 |
| Landscaping & curb appeal | $6,000 |
| Doors, lighting & fixtures | $5,000 |
| Cleanup/demo/haul-off | $4,000 |
| Contingency | $10,000 |
| Total | $133,000 |
Comps
Recent New Milford sales show a pretty wide range depending heavily on size, condition and level of renovation:
- 340 Madison Ave — 4 bed / 3 bath — $875,000, sold Sept. 9, 2026.
- 119 Lenox Ave — 4 bed / 3 bath — $950,000, sold Aug. 4, 2026.
- 455 Hoffman Ave — 4 bed / 2.5 bath — $830,000, sold July 9, 2026.
- 1037 Carnation Dr — 4 bed / 2 bath — $770,000, sold Apr. 16, 2026.
- 121 Pine Ave — 4 bed / 3 bath — $715,000, sold June 2026.
- 1103 Korfitsen Rd — 4 bed / 3 bath — $1,250,000, sold Aug. 6, 2026.
- 1025 Maple Dr — 4 bed / 3.5 bath — $1,210,000, sold Aug. 21, 2026.