Fix and Flip Project
3406 Henderson Rd, Cleveland Heights, OH 44112, USA
Bedrooms: 3, Bathrooms: 1.0, Sqft: 1343, Lot Size: 5062, Year Built: 1927
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 | $29,936 | |
Rehab Contingency () | $0 | |
Rehab Holding Costs | $455 | |
Total Project Costs | $65,391 | |
Financing | $0 | |
Cash out of Pocket | $65,391 | |
Rehab Project Length | 2 Month(s) |
Project Returns
Sales Price | $91,000 | |
Project Costs | ($65,391) | |
Sale Costs | $0 | |
Profit Amount | $25,609 | |
ROI | 39.16% | |
ROR | 234.98% | |
Unlevered ROI | 39.16% | |
Unlevered ROR | 234.98% |
Comps
| Address | Dist | Beds | Baths | Sqft | Sold ($) | $/sqft | Sale date |
| 2337 N Taylor Rd | 0.14 miles | 3 | 2.0 | 1500 | $95,000 | $63 | 2018-08-02 |
| 3406 Spangler Rd | 0.16 miles | 3 | 1.0 | 1199 | $105,000 | $88 | 2018-12-04 |
| 3383 Henderson Road | 0.056 miles | 3 | 1.0 | 1364 | $95,000 | $70 | 2018-07-11 |
| Average: | $98,333 | $74 | |||||
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $98,333 | |
Subject Sqft | 1,343 | |
Adjusted $/sqft | $73 |
Unadjusted Comps
Avg of Sales ARV | $98,333 | |
Subject Sqft | 1,343 | |
Avg of Sales $/sqft | $73 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $74 | |
Subject Sqft | 1,343 | |
Calculated Adj. ARV | $98,934 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $74 | |
Subject Sqft | 1,343 | |
Calculated ARV | $98,934 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | ||||
|  |  |  | |||||
| Address | 3406 Henderson Rd, Cleveland Heights, OH 44112, USA | 2337 N Taylor Rd, Cleveland Heights, OH 44112, USA | 3406 Spangler Rd, Cleveland Heights, OH 44112, USA | 3383 Henderson Rd, Cleveland Heights, OH 44112, USA | ||||
| Sold Date | 2015-06-16 | 2018-08-02 | 2018-12-04 | 2018-07-11 | ||||
| Sold $ | $65,000 | $95,000 | $105,000 | $95,000 | ||||
| Sqft | 1,343 | 1,500 | 1,199 | 1,364 | ||||
| $/sqft | $48 | $63 | $88 | $70 | ||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 3.00 | 3.00 | $0 | 3.00 | $0 | 3.00 | $0 |
Bathrooms | $0 | 1.00 | 2.00 | $0 | 1.00 | $0 | 1.00 | $0 |
Garage spaces | $0 | 2.00 | 2.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Carport spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Lot size sqft | $0 | 5,062.00 | 10,201.00 | $0 | 4,879.00 | $0 | 5,061.00 | $0 |
Basement sqft | $0 | 640.00 | 0.00 | $0 | 576.00 | $0 | 0.00 | $0 |
Has pool | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has view | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | |||||
| Adjusted $/sqft | $73 | $63 | $88 | $70 | ||||
| Adjusted ARV $ | $98,333 | $95,000 | $105,000 | $95,000 | ||||
| Notes | ||||||||
OpEx: Utilities & Periodic Costs
Annual Expense Growth Rate: 1.0%
| Name | Setup ($) | Amount ($/period) | Cost |
| Property Taxes | $0 | $1,200/ Year | $200 |
| Insurance | $100 | /Month | $100 |
| Alarm | $25 | /Month | $25 |
| Water | $35 | /Month | $35 |
| Sewer | $35 | /Month | $35 |
| Gas | $20 | /Month | $20 |
| Electric | $40 | /Month | $40 |
| Total OpEx Costs: | $455 | ||
CapEx (Replacements)
Annual Expense Growth Rate: 1.0%
| Name | Initial ($) | Replacement Cost ($) | Lifespan (Yrs) | Age (Yrs) | Cost |
| Paint | $3,600 | $0 | 5 | 0 | $3,600 |
| Flooring | $1,500 | $0 | 5 | 0 | $1,500 |
| Appliances | $2,300 | $0 | 10 | 0 | $2,300 |
| Water Heater | $1,300 | $0 | 10 | 0 | $1,300 |
| Landscaping | $1,500 | $0 | 10 | 0 | $1,500 |
| Countertops | $1,500 | $0 | 10 | 0 | $1,500 |
| HVAC | $2,200 | $0 | 20 | 0 | $2,200 |
| Plumbing | $3,500 | $0 | 30 | 0 | $3,500 |
| Windows | $6,200 | $0 | 50 | 0 | $6,200 |
| Roof | $0 | $0 | 25 | 0 | $0 |
| Cabinets | $800 | $0 | 20 | 0 | $800 |
| Total CapEx Costs: | $0 | ||||
Summary Rehab Estimate
| Category | ($) Amount | |
| Windows | $6,100 | |
| Doors | $1,700 | |
| Walls and Ceilings | $1,200 | |
| Floors and Tile | $1,200 | |
| Kitchens | $6,000 | |
| Bathrooms | $1,200 | |
| Electrical | $2,500 | |
| Painting and Finishing | $36 | |
| Plumbing and HVAC | $4,500 | |
| Water Damage and Mold Remediation | $2,000 | |
| Siding and Trim | $3,500 | |
| Total Rehab Cost: | $29,936 |
Property Photos