House Flipping Case Study #3

2520 Smith Point Rd



Property Info


Address: 2520 Smith Point Rd, Nanjemoy, MD 20652

Year Built: 1980
Sq Feet: 2360
Bedrooms: 4 originally, 5 after rehab
Bathrooms: 1.5 originally, 3 after rehab
Property URL: click here


Rehab Details


Rehab Cost: $85,000
Carrying Cost: $3000
Sales Cost: Net proceed
Rehab Time Frame: 2 months
Sale Time Frame:  2 months


Returns


Purchase Price (& Taxes): $171,083.58
Sale Price: $346,000
Project Time Frame: Rehab Time Frame + Sale Time Frame = 4 months
Project Profit: Sale Price – Purchase Price – Rehab Cost – Carrying Cost – Sales Cost = $61,389.6
Project return on investment: Project Profit / (Purchase Price + Rehab Cost + Carrying Cost) = 23.69%