Titusville Flip

Titusville Flip

3 bed / 1 bath 920 sq ft Built in 1959 Single Family

Our investor purchased this 3 bedroom, 1 bathroom single family home through EquityPro for $56,000.  He completed a $35,125 rehab with the bulk of his budget spent on completely updating the interior of the home.  Unexpectedly, he had an added expense of replacing the septic and drain field.  However, even with this added expense, he was still able to complete the entire renovation well within EquityPro's advertised rehab projection of $44,400.  He had an additional $8,900 in other expenses including utilities, commissions and closing costs.  EquityPro's estimated ARV was $135,000.  This property went pending in 30 days and sold in 61 days for $146,000, generating a massive 46% ROI and a net profit of $45,975.  Well done!

Financial details
Investor price $56,000
Rehab costs $35,125
Other expenses $8,900
Days on the market 61
Sold price $146,000
$45,975
Profit
45.96%
ROI