Costs to Rehab - Pittsburgh (Help a new guy out)

[Sireno Mattie]

Hello,

I may have come across a deal in the wider Pittsburgh surrounding area. It is a foreclosure for a good price, but it needs some work and this is my first time.

To help me run numbers, is anyone familiar enough to give me a rough cost per square foot for rehabbing/renovating in the outlying Pittsburgh areas? This house runs the chance of being a gut, but if I do it, I'd like to try it as a live and flip, so some upgrades could be stretched across about two years.

I'm weighing this versus a duplex further south and would appreciate some help from those who have worked in the area.

Also, any tips for getting comparable numbers? Right now I'm just looking at what Realtor offers, but I know I could have better data.

Thanks,

[Alex Hileman]

@Sireno Mattie,

I would ask a contractor to walk it for you to get a rough estimate. It's impossible to give a rough cost per square foot, but here are some big ticket items to look out for:

Sewer: Most houses in Pittsburgh were built around the early 1900s and have cast iron sewer pipes under the house, and terra cotta sewer pipes from the house to the main tie in. The home owner owns the line from the house to the main tie in, and the main tie in could be in the front of the house, or it could be in the back. Often times, the terra cotta cracks or tree roots grow into it. Getting a $200 sewer inspection can save you $20,000+ in sewer line repairs. 

Foundation: A lot of the old foundations were sandstone or other natural stone. If there isn't proper water drainage, the water can wash away or erode the foundation. A home inspector can recognize foundation damage and a waterproofing or foundation contractor can get you a price on foundation repairs. A home inspector can also inspect the supporting beams. You will probably notice if the beams were not spaced out correctly or if someone cut into the beams because it will cause the floor to sag. Also hard to give a price on this one but they charge per beam or per support that they have to put in. Ballpark $8,000 - $16,000.

Roof: A roof repair or replacement will depend on the size, pitch (or slope), and material of the roof. Most roof leaks that I see are from chimney flashing than needs repaired. If a roof leak was left unfixed for a long time, then you'll need to remove drywall and remediate for mold, and the drywall finishing can get expensive. Nothing too crazy, I estimate $800 per wall. Roof replacement would be closer to $10,000.

Full bathroom remodel: around $8,000

Full kitchen: around $25,000 for a basic kitchen. The cabinets are the most expensive part. If you can refinish and paint them you would save a lot. More high end kitchens run $40,000+

Flooring: Carpet is about $800 per bedroom (or $2.50 per sq ft). Vinyl plank is about $7-10 per sq ft depending on how high end you go. Don't get the thin flimsy LVP, it tears when you drag appliances or furniture.

Most basements I have seen have some sort of water intrusion. It could be an easy fix like painting the walls with a waterproofing membrane, or it could require a more serious foundation repair. You can start with checking the drains to make sure the water run off from the roof ins't pouring straight down and is getting diverted away from the house. It may need a drain diverter or a french drain.

Windows: It depends on the size, but these can run $500+ per window.

As for comparable numbers, looking on Zillow or Realtor to see homes that sold or are on the market in the same area is a good start. If you have an agent, they can get you a comparative market analysis.

With foreclosures you usually don't get to have inspection contingencies with your offer, so you would need to get inspections done before you submit an offer.

Hope this helps give you a ballpark of costs. Let me know if you have any other questions!