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Updated over 7 years ago on .

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3
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Nehemiah Thorn
  • Ponchatoula, LA
0
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3
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Flipping Burned Out SFR

Nehemiah Thorn
  • Ponchatoula, LA
Posted

Hello BP Family, 

It's been a while since my last post(s). I have a question regarding ARV numbers on a burned out SFR in my hometown.

I checked comparables  in the area within 1-3 miles of the subject property. 

Realtor.com  seemed to have  the most suitable median after repair value price. 

The SFR is about 1750 SQ FT 3/2 built in 1970's The parish accessors market value in the current burned out condition is $12,000.00 . The property has converted apartment in the rear.

ARV $149,500 ( excellent livable condition) - $40,000 Repairs= $ 64,000- $ 10,000.00 (my fee) - $10,930.00 (Buyers Profit)- $4372.00 (Holding Costs)= $38,348 MAO

Would this be a good MAO with these numbers hypothetically?

Thanks Fam....I need all the constructive criticism that I can get. Thanks again in advance.