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
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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 |
Property Description
| 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 |
Financial Analysis
Financial Breakdown
| 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 |
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
| Gross Rehab Profit | $ 49,228 |
| Return On Investment | 23.63 % |
| Annualized ROI | 47.26 % |
| Internal Rate of Return | 59.33 % |
Timeline Assumptions
| Rehab Period | 3 months |
| Listing Period | 3 months |
| Total Holding Period | 6 months |
Photos