Estimating rehab cost for a duplex

Estimating rehab cost for a duplex

Rental Property Investor · Athens, GA · Member since 2019 · 28 posts · 13 votes

Can someone check my rehab estimate on this duplex?

https://youtu.be/7eoE9oaDEzM
This is a 2Br/1bd per side duplex, 1848 sqft.

The interior of one unit is very bad, but the other unit is fine. Each unit is 924 sqft.

From what I can see in the video, it needs new roof. The soffit, fascia, and some of the siding needs to be replaced. Exterior paint and interior paint. Vinyl Flooring. New vanity for bath room. Cleaning.

+Soffit and fascia + Siding replace: 3000

+Roof Replace: 5000

+Exterior Paint: 2500

+Interior Paint (1 unit): 1000

+Vinyl Flooring (1 unit): 2000

+Bathroom Vanity: 250

+Cleaning (1 unit): 200

Total Rehab Cost: ~14k

P/s: I'm in North East of Atlanta, GA

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Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
7y

@Hieu Bui Are you planning on doing all the work yourself or hire contractors?

I think you are very low on all line items. You should get hard bids to confirm your estimate.

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  • Gregory SchwartzBusiness Member
    Rental Property Investor · College Station, TX · Member since 2016 · 1k+ posts · 1k+ votes
    1y

    It took me way to long to learn this.... add 30-40% to your estimate. After you do 5 of the same upgrade package you might be able to lower that buffer down to 20-30%. 

    Yes 40% is a lot. Yes it will kill a lot of deals. Yes that's what it will ultimately cost. haha

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