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

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Purchase Price $ 150,000
Rehab Estimate $ 56,000
Project Profit $ 49,228
After Repair Value $ 276,000

Investment Summary

After Repair Value $ 276,000
Calculated Project Profit $ 49,228
70% Rule 74.64 %
Return On Investment 23.63 %
Project Term 6 months

Financial Breakdown

Total Capital Needed $ 208,292
Financing $ 0
Total Cash Needed $ 208,292

Project Cost Breakdown

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

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