Fix and Flip Project

Dundee, Mi

Bedrooms: 2, Bathrooms: 1.0, Sqft: 910, Lot Size: 6098
Brought to you by:
D&A Property Solutions
844-450-4000
marcus@dapropertysolutions.com
Daps logo 4

Notes

Fix and Flip Opportunity here. 2bd/1ba Year built: 1940 Was Fully Gutted. Take over this 30% completed project! Previous builder ran out of money. Rehab: 50k Avg ARV: 154k ->Framing Completed ->New Furnace ' New Duct Work. Needs A/C Unit/condenser. ->Newer Hot Water Heater ->Electrical is finished on 2nd Floor; Need to Finish 1st Floor ->Subflooring is competed on 1st Floor; Needs to Complete 2nd Floor (75% of Upstairs floor joists need to be braced) ->Plumbing needs to be completed (boiler stacks, soil stack & toilet hookups need to be run) ->Roof: No Leaks, but could use some new shingles. The wood is fine. ->Needs a small deck on the back of house Asking: 60k OBO Note: Larger photos are available via text Join our Buyer's List: https://www.dapsbuyshouses.com/i-want-one Terms: Contract for sale, CASH or Hard Money, Sold Strictly As-Is $3000 non-refundable EARNEST MONEY DEPOSIT wired to title company of record, deposit will be refunded if seller can not perform, no option period will be granted, if buyer fails to close, deposit shall be forfeited to seller as damages. Buyer PAYS ALL CLOSING COSTS. D&A Property Solutions does not claim to be the owner of the properties for sale, but we have equitable interest in properties. All properties subject to errors, omissions, deletions, additions, and cancellation, in addition, ALL properties are sold as-is, where is, with absolutely no representations written or oral. Buyer is to do their own independent due diligence.
Frontish

Financial Summary

Project Costs

Purchase Price
$60,000
Purchase Costs
$1,800
Rehab Costs
$50,350
Rehab Contingency ()
$0
Rehab Holding Costs
$1,303
Total Project Costs
$113,453
Financing
$0
Cash out of Pocket
$113,453
Rehab Project Length
4 Month(s)

Project Returns

Sales Price
$154,000
Project Costs
($113,453)
Sale Costs
($4,620)
Profit Amount
$35,927
ROI
31.67%
ROR
95.00%
Unlevered ROI
31.67%
Unlevered ROR
95.00%

Comps

AddressDistBedsBathsSqftSold ($)$/sqftSale date
Dundee, Mi0.22 miles21.01100$144,000$1312023-01-06
Dundee, Mi0.7 miles21.01199$170,000$1422022-01-12
Dundee, Mi0.12 miles31.01132$206,000$1822023-07-06
Dundee, Mi0.1 miles32.01149$158,000$1382023-03-20
Average:$169,500$148 

CMA Summary

By Average of Sales

Adjusted Comps

Avg of Adjusted Sales ARV
$169,500
Subject Sqft
910
Adjusted $/sqft
$186

Unadjusted Comps

Avg of Sales ARV
$169,500
Subject Sqft
910
Avg of Sales $/sqft
$186

By Average of $/Sqft

Adjusted Comps

Avg of Adjusted $/sqft
$148
Subject Sqft
910
Calculated Adj. ARV
$134,908

Unadjusted Comps

Avg of Unadjusted $/sqft
$148
Subject Sqft
910
Calculated ARV
$134,908

CMA Detail

BasicsSubjectComparable Comparable Comparable Comparable
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AddressDundee, MiDundee, MiDundee, MiDundee, MiDundee, Mi
Sold Date2021-06-242023-01-062022-01-122023-07-062023-03-20
Sold $$25,000$144,000$170,000$206,000$158,000
Sqft9101,1001,1991,1321,149
$/sqft$27$131$142$182$138
Features
Feature Values
UnitsUnitsAdjustmentUnitsAdjustmentUnitsAdjustmentUnitsAdjustment
Bedrooms
$02.002.00$02.00$03.00$03.00$0
Bathrooms
$01.001.00$01.00$01.00$02.00$0
Garage spaces
$00.000.00$00.00$00.00$00.00$0
Carport spaces
$00.000.00$00.00$00.00$00.00$0
Lot size sqft
$06,098.0039,204.00$013,068.00$012,632.00$014,375.00$0
Basement sqft
$00.000.00$00.00$00.00$00.00$0
Has pool
$00.000.00$00.00$00.00$00.00$0
Has view
$01.001.00$01.00$01.00$01.00$0
Adjustment Subtotals$0$0$0$0
Adjusted $/sqft$186$131$142$182$138
Adjusted ARV $$169,500$144,000$170,000$206,000$158,000
Notes

Purchase Costs

NameTypeCost
Closing3.00 % of Purchase$1,800
Total Purchase Costs:$1,800

Sale Costs

NameTypeCost
Commission3.00 % of Sale$4,620
Total Sale Costs:$4,620

OpEx: Utilities & Periodic Costs

NameSetup ($)Amount ($/period)Cost
Property Taxes$0$1,839/ Year$613
Water$100$30/Month$220
Electric$170$60/Month$410
Sewer$20$10/Month$60
Total OpEx Costs:$1,303

Summary Rehab Estimate

Category($) Amount
Walls and Ceilings
$3,600
Windows
$2,500
Doors
$3,750
Kitchens
$12,000
Bathrooms
$6,000
Painting and Finishing
$2,700
Floors and Tile
$3,900
Siding and Trim
$4,900
Other
$2,000
Deck
$5,000
Electrical
$4,000
Total Rehab Cost:$50,350