Tacoma House To Flip And Build On Lot

[Ryland Taniguchi]

Price Together: $128,000 (includes assignment fee). Seller wanted to sell together and so we couldn't separate the two tax parcels.

Land Value of 517 E Morton - $33,000

House Value of 523 E Morton - $95,000

517 E Morton St, Tacoma

Comps Less Than 1 Block Away

4 Bed, 2.5 Bath, 1550 Square Feet

We just built almost the exact thing in Tacoma and it cost $142,000 for horizontal and vertical. Sold for the same price.

If you buy from us, we ask for the list back.

New Construction of 517 Morton

Finish Value: $229,000

Closing Costs - $23,000Development Costs - $50,000

Construction Costs - $92,000

Carrying Costs - $20,000

Loan Fees - $5,000

Profit - $39,000 (17% Profit)

Flip of 523 E Morton

Flip ARV - $190,000

Construction Costs - $29,000

Hold Costs - $5,000

Closing Costs - $15,000

Price - $128,000

Profit - $13,000

83% of ARV Minus Construction Costs - $129,000

Downpayment Estimate - $50,000

Total Profit - $52,000

Email [email protected] or call 206.832.9590 for more information.  Contract expires 8/26/15.

517(lot) & 523 E Morton St Tacoma 98404

2087230051 & 2087230061