Fix and Flip Project
3828 E 55th St, Cleveland, OH 44105, USA
Bedrooms: 4, Bathrooms: 2.0, Sqft: 2543, Lot Size: 3640, Year Built: 1910
Brought to you by:
TURBO REALTY LLC,
(216) 279-5242
deangelo@turborealtycleveland.com
Financial Summary
Project Costs
Purchase Price | $35,000 | |
Purchase Costs | $0 | |
Rehab Costs | $61,450 | |
Rehab Contingency () | $0 | |
Rehab Holding Costs | $2,945 | |
Total Project Costs | $99,395 | |
Financing | $0 | |
Cash out of Pocket | $99,395 | |
Rehab Project Length | 3 Month(s) |
Project Returns
Sales Price | $162,500 | |
Project Costs | ($99,395) | |
Sale Costs | $0 | |
Profit Amount | $63,106 | |
ROI | 63.49% | |
ROR | 253.96% | |
Unlevered ROI | 63.49% | |
Unlevered ROR | 253.96% |
Comps
| Address | Dist | Beds | Baths | Sqft | Sold ($) | $/sqft | Sale date |
| 4007 E 54th St | 0.33 miles | 4 | 2.0 | 2244 | $60,000 | $27 | 2021-06-07 |
| 6726 Hosmer Ave | 0.48 miles | 4 | 2.0 | 2073 | $17,500 | $8 | 2021-07-16 |
| 4427 Gamma Ave | 0.52 miles | 4 | 1.0 | 2118 | $129,500 | $61 | 2021-02-25 |
| Average: | $69,000 | $32 | |||||
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $69,000 | |
Subject Sqft | 2,543 | |
Adjusted $/sqft | $27 |
Unadjusted Comps
Avg of Sales ARV | $69,000 | |
Subject Sqft | 2,543 | |
Avg of Sales $/sqft | $27 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $32 | |
Subject Sqft | 2,543 | |
Calculated Adj. ARV | $81,376 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $32 | |
Subject Sqft | 2,543 | |
Calculated ARV | $81,376 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | ||||
|  | Image Not Available |  | |||||
| Address | 3828 E 55th St, Cleveland, OH 44105, USA | 4007 E 54th St, Newburgh Heights, OH 44105, USA | 6726 Hosmer Ave, Cleveland, OH 44105, USA | 4427 Gamma Ave, Newburgh Heights, OH 44105, USA | ||||
| Sold Date | 2021-07-28 | 2021-06-07 | 2021-07-16 | 2021-02-25 | ||||
| Sold $ | $28,800 | $60,000 | $17,500 | $129,500 | ||||
| Sqft | 2,543 | 2,244 | 2,073 | 2,118 | ||||
| $/sqft | $11 | $27 | $8 | $61 | ||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 4.00 | 4.00 | $0 | 4.00 | $0 | 4.00 | $0 |
Bathrooms | $0 | 2.00 | 2.00 | $0 | 2.00 | $0 | 1.00 | $0 |
Garage spaces | $0 | 0.00 | 1.00 | $0 | 2.00 | $0 | 2.00 | $0 |
Carport spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Lot size sqft | $0 | 3,640.00 | 4,800.00 | $0 | 5,200.00 | $0 | 5,000.00 | $0 |
Basement sqft | $0 | 574.00 | 986.00 | $0 | 658.00 | $0 | 1,094.00 | $0 |
Has pool | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has view | $0 | 1.00 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | |||||
| Adjusted $/sqft | $27 | $27 | $8 | $61 | ||||
| Adjusted ARV $ | $69,000 | $60,000 | $17,500 | $129,500 | ||||
| Notes | ||||||||
OpEx: Utilities & Periodic Costs
| Name | Setup ($) | Amount ($/period) | Cost |
| Property Taxes | $0 | $1,438/ Year | $360 |
| Alarm | $350 | $25/Month | $425 |
| Insurance | $175 | $125/Month | $550 |
| Electric | $0 | $150/Month | $450 |
| Gas | $0 | $110/Month | $330 |
| Sewer | $400 | $35/Month | $505 |
| Water | $250 | $25/Month | $325 |
| Total OpEx Costs: | $2,945 | ||
Summary Rehab Estimate
| Category | ($) Amount | |
| Other | $5,000 | |
| Windows | $1,200 | |
| Doors | $1,500 | |
| Walls and Ceilings | $5,500 | |
| Floors and Tile | $6,500 | |
| Kitchens | $5,500 | |
| Bathrooms | $3,500 | |
| Plumbing and HVAC | $6,500 | |
| Electrical | $7,500 | |
| Painting and Finishing | $2,500 | |
| Foundations and Slabs | $12,000 | |
| Rough Carpentry | $2,500 | |
| Insulation and Moisture Control | $1,200 | |
| Water Damage and Mold Remediation | $550 | |
| Total Rehab Cost: | $61,450 |
Detailed Rehab Estimate
| Item | Qty | Cost | |
| Total Cost: | $0.00 | ||
Property Photos