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 |