Rare Oviedo Flip

Rare Oviedo Flip

5 bed / 2.5 bath 2889 sq ft Built in 1992 Single Family

Even the repulsive smell of cat urine could not keep our investor from taking on this flip! The investor purchased this five-bedroom, two-and-a-half-bathroom, single-family home in Oviedo through EquityPro for $280,000.  They completed a full interior rehab, including a new kitchen, new bathrooms, updated flooring, paint, and new drywall in certain areas due to the overwhelming urine odor.  In addition, they cleaned up the exterior of this home, adding some much-needed curb appeal.  The total renovation cost for this property was $70,000, with an additional $25,700 in closing costs, commissions, and utilities.  EquityPro's estimated ARV was $430,000.  However, with the beautiful updates to this home and hot retail market, this home sold in 15 days for $450,000, creating a net profit for our investor of $74,300.  Congratulations on a job well done!      

Financial details
Investor price $280,000
Rehab costs $70,000
Other expenses $25,700
Days on the market 15
Sold price $450,000
$74,300
Profit
19.78%
ROI