Executive Summary

Multifamily: 4 bedrooms , 2 bathrooms

Year built: 1950, Size: 1604 SF

Investment strategy: Fix and Flip

The main home currently is a 2 bed 1 bath (816 sq ft). It has a Finished Screened Porch of 392 sq ft which can be converted into a bedroom making the house a 3/1.

Also, has a detached garage of 396 sq ft which can become an efficiency apartment.
After rehab the total heated area would be 816+392+396 = 1604 sq ft.

It’s a property on Canal St with a shared boat ramp to access Tampa Bay body of water.

Matterport link (house):
https://my.matterport.com/show/?m=MTRdZqdHPUS&mls=1

Matterport link (garage):
https://my.matterport.com/show/?m=wzQvzazEvb9

Photos link: https://www.dropbox.com/sh/91qjgieimeq9o27/AABO6VjEHofSVI8UfUJJqu6za?dl=0

Video link: https://www.youtube.com/watch?v=Xj3HcJW2m1U

Appraisal link: https://drive.google.com/file/d/1BhW1CQvzll1VKN-raYN_k68eNplm4Bgs/view?usp=sharing

Off Market Properties

Subscribe to Learn More

For more information about how we process your data, please click here to read our Privacy Policy.
Purchase Price $ 150,000
Rehab Estimate $ 56,000
Project Profit $ 49,228
After Repair Value $ 276,000

Investment Summary

[fusion_table fusion_table_type=”1″ fusion_table_rows=”9″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
After Repair Value $ 276,000
Calculated Project Profit $ 49,228
70% Rule 74.64 %
Return On Investment 23.63 %
Project Term 6 months
[/fusion_table]

Financial Breakdown

[fusion_table fusion_table_type=”1″ fusion_table_rows=”9″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Total Capital Needed $ 208,292
Financing $ 0
Total Cash Needed $ 208,292
[/fusion_table]

Project Cost Breakdown

[fusion_table fusion_table_type=”1″ fusion_table_rows=”9″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Purchase Costs  
Purchase Price $ 150,000
Buying Costs $ 1,500
Total $ 151,500
   
Repair Costs  
Repair Costs Lump Sum $ 56,000
Total $ 56,000
   
Holding Costs  
Monthly Holding Costs $ 132
Total Months Held 6
Total $ 792
   
Selling Costs  
Commissions (5%) $ 13,800
Selling Costs $ 4,680
Total $ 18,480
[/fusion_table]

Property Description

[fusion_table fusion_table_type=”1″ fusion_table_rows=”8″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Purchase Price $ 150,000
Address

1021 Canal St, Ruskin, FL 33570
Year Built 1950
Type Multifamily
Number of Units 2
Size 1604 SF
Bedrooms 4
Bathrooms 2
[/fusion_table]

Financial Analysis

Financial Breakdown

[fusion_table fusion_table_type=”1″ fusion_table_rows=”5″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Purchase Price $ 150,000
Purchase Costs $ 1,500
Repair Costs $ 56,000
Holding Costs $ 792
Total Capital Needed $ 208,292
Financing $ 0
Total Cash Needed $ 208,292
Cash at Closing $ 0
Cash During Flip $ 208,292
[/fusion_table]

Holding period of 5 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don’t provide such an exact information.

Project Returns

[fusion_table fusion_table_type=”1″ fusion_table_rows=”6″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Gross Rehab Profit $ 49,228
Return On Investment 23.63 %
Annualized ROI 47.26 %
Internal Rate of Return 59.33 %

 

[/fusion_table]

Timeline Assumptions

[fusion_table fusion_table_type=”1″ fusion_table_rows=”5″ fusion_table_columns=”2″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”property-details-table” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
Rehab Period 3 months
Listing Period 3 months
Total Holding Period 6 months

 

[/fusion_table]

Photos