New SFH Flip in Fort Lauderdale, $85k

[Gregory Avalone]

Price: $85,000 CASH or Hard Money ONLY

Est. Rehab: $50k-60k

ARV: $200-220k

Layout: 4 Bed, 2 Bath (1546 sqft, 5400 sqft lot )

Off Market single family home available in Fort Lauderdale east of I-95, close to downtown. The property is CBS construction and is vacant. Tax roll shows 3/1 but the property is a large 4 bed / 2 bath and 1,546 sq ft. The property needs a complete rehab including a new roof and central ac installation. Excellent return on investment on this flip in a neighborhood where single family homes are selling quickly.

SUBJECT PROPERTY
4/2
1,546 sq ft ($55/sq ft)
5,400 sq ft lot

$85,000 Purchase Price
$60,000 Renovations
$12,000 Commission on Sale ($200,000 sales price)
$200,000 - $157,000 = $43,000 net (29% return on $145,000 investment)

COMPS (closed sales)
525 NW 15th Ter 3/2 1,106 sq ft $175,000 ($158/sq ft, 29 DOM)
1515 NW 4th St 2/1 1,056 sq ft $175,000 ($165/sq ft, 0 DOM) 

1804 NW 8th St 3/2 1,250 $190,000 ($152/sq ft, 18 DOM)
1600 NW 5th St 4/2 1,160 sq ft $150,000 ($129/sq ft, 3 DOM)
1528 NW 4th St 4/2 1,213 sq ft $219,000 *pending ($180/sq ft, 11 DOM)