Winter Park Flip

Winter Park Flip

3 bed / 2 bath 1637 sq ft Built in 1963 Single Family

A long time client of EquityPro purchased this 3 bedroom, 2 bathroom Winter Park home for $266,000.  He completely modernized the home inside and out with new stucco, windows, paint inside and out, waterproof flooring, 5 inch baseboards, stainless steel appliances, granite kitchen countertops, replumbed bathrooms, porcelain tile and marble top vanities in the bathrooms, lighting and plumbing fixtures, and porcelain tile on the front and back porch areas.  The investor found a deal on flooring and completed the rehab for around $30,000, well below EquityPro's estimated $49,000 budget.  He had an additional $24,450 in other expenses including commissions, closing costs and utilities.   After 25 days on the market, this property sold for $395,000, generating a net profit of $74,550.  Great job on this successful flip!

 

Financial details
Investor price $266,000
Rehab costs $30,000
Other expenses $24,450
Days on the market 25
Sold price $395,000
$74,550
Profit
23.26%
ROI