Rehab Estimate - Townhouse Interior

[Scott H.]

Hey all rehab wizards

First off, I have consumed J Scott's book on flipping and rehab costs and it is a wealth of great information for sure, but wanted a guesstimate of costs associated with a floor up rehab of your typical cookie cutter 800 SF 2/1.5 townhomes built 1980+ for those who have done some of these. My RE weakness is costs associated with rehabbing, and just wanted to verify my numbers are in the range of what folks have already done. I am doing this in an average cost of labor/materials market.

I am looking at mid grade everything (semi custom cabs, granite ct, engineered wood in living, hallways, carpet beds,  tile kitchen/baths) and interior paint.

There are a number of these around in markets I am looking at in various stages of condition, so I am really trying to get a good feel for analysis purposes in calculated my potential cash flow.

Thanks for all input! $$$

[J Scott]

I don't know your area specifically, and I don't know what you mean by "floor up" rehab.  But, assuming you mean replacing all the interior finishes (electrical/plumbing fixtures, cabinets, flooring, countertops, appliances, doors, paint, etc), you're probably looking at $20-35/sf.  If you're looking at replacing mechanicals as well (electrical, plumbing, HVAC) or doing any exterior work, you're probably closer to $35-45/sf.

Those are just guesses based off of the very little info you provided, but in my experience, that range would be correct for a reasonable portion of the country...