Jacksonville San Jose Flip

Jacksonville San Jose Flip

3 bed / 2 bath 1380 sq ft Built in 1955 Single Family

Our investor turned this outdated 3 bedroom, 2 bathroom single-family home in Jacksonville's San Jose area, into a beautiful, modernized ranch-style home.  He completed a full interior rehab and updated the exterior with new paint and landscape adding some much needed curb appeal, totaling $45,000.  After two full-price offers fell apart, our investor ended up having to replace the roof, ductwork and he had to add new insulation at the buyers' request which was an additional $11,000.  The additional work put our investor above his projected rehab budget so his profit on this flip was not as high as he originally projected.  Our investor had an additional $25,097 in other expenses including closing costs, commissions, and utilities. After 66 days on the market, this home sold for $249,900, generating a net profit of $8,403.  Despite the challenges, it was a beautifully done rehab and a profitable deal.      

Financial details
Investor price $159,500
Rehab costs $56,000
Other expenses $25,097
Days on the market 66
Sold price $249,000
$8,403
Profit
3.49%
ROI