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):

Matterport link (garage):

Photos link:

Video link:

Appraisal link:

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

After Repair Value$ 276,000
Calculated Project Profit$ 49,228
70% Rule74.64 %
Return On Investment23.63 %
Project Term6 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 Held6
Total$ 792
Selling Costs 
Commissions (5%)$ 13,800
Selling Costs$ 4,680
Total$ 18,480

Purchase Price$ 150,000

1021 Canal St, Ruskin, FL 33570

Year Built1950
Number of Units2
Size1604 SF

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 Investment23.63 %
Annualized ROI47.26 %
Internal Rate of Return59.33 %


Timeline Assumptions

Rehab Period3 months
Listing Period3 months
Total Holding Period6 months