Block Flip in Lakeshore

Block Flip in Lakeshore

3 bed / 2 bath 1264 sq ft Built in 1951 Single Family

Look at this beautiful Jacksonville flip!  Our investor purchased this 3 bedroom, 2 bathroom single family home through EquityPro for $76,000.  He completed a full cosmetic rehab inside and out and added a laundry room to increase the homes functunality.  The total cost of the renovation was $46,343, which was slightly higher than EquityPro's projected rehab budget of $40,000, due to the addition of the laundry room and some plumbing and electricial issues.  Our investor had an additional $19,992 in other expenses including closing costs, commissions, utilities, and staging of the property.  EquityPro's projected ARV for this home was $160,000.  After 16 days on the market, this property sold for $174,500, generating a net profit of $32,165.  Congratulations on a successful flip!    

Financial details
Investor price $76,000
Rehab costs $46,343
Other expenses $19,992
Days on the market 16
Sold price $174,500
$32,165
Profit
22.60%
ROI