Tampa Flip on Double Lot

Tampa Flip on Double Lot

3 bed / 1 bath 1294 sq ft Built in 1948 Single Family

This three-bedroom, one bathroom wood frame single family home in the Tampa area was in need of updating as well as some junk removal and yard maintenance in the backyard.  Our investor purchased this property through EquityPro for $99,900.  He completely revamped the interior of this property, removed all the junk from the yard, and spruced up the backyard to make it a more inviting space.  The total cost of the renovation was $45,000, which was higher than EquityPro's initial rehab projection of $30,100.  However, our investor decided to increase his rehab budget to make this property stand out, and his decision paid off as he was generously able to increase the sales price.  He had an additional $23,000 in closing costs, commissions, and utilities.  After only 10 days on the market, this property sold for $269,000, generating a $101,100 profit.  What a success for our investor!  

Financial details
Investor price $99,900
Rehab costs $45,000
Other expenses $23,000
Days on the market 10
Sold price $269,000
$101,100
Profit
60.21%
ROI