Rehab #10.1, Stoneham – Final Analysis

We sold Rehab #10.1, Stoneham on October 20th for $20,000 over asking price!! My amazing real estate agent, who also happens to be my wife had over 60 people at the open house back in September which contributed to the bidding war that put us over asking.

We went about $4,000 over on the rehab but the sale price was $50,000 over my projected. The Stoneham market picked up during the rehab process and is still very strong now. Also contributing to the higher sale price was the fact that we splurged a bit on higher end finishes. I knew these special touches would appeal to first time homebuyers and I think they really made us stand out on this one.

I’m thrilled to say that this was JS2 Homes’ most profitable deal to date. Here’s how the deal breaks down:

Before & After Pictures

Overview:

• Purchase Closing Date – 5/12/2014
• Rehab Completion Date – 9/1/2014
• Sale Contract Date – 9/9/2014
• Sale Closing Date – 10/20/2014

Stats:

• Rehab Time – 112 days
• Selling Days on Market – 7 days
• Holding Time (close to close) - 161 days
• Total Profit - $109,395.77
• Return on Investment (ROI) – 427.87%
• Annualized ROI – 956.74%