Quick Flip Project
Irvine, CA
Bedrooms: 4, Bathrooms: 3.0, Sqft: 2465, Lot Size: 6270, Year Built: 1973
Brought to you by:
REI/kit
(855) 234-FLIP
info@reikit.com
Financial Summary
Project Costs
Purchase Price | $545,000 | |
Purchase Costs | $22,800 | |
Rehab Costs | $41,000 | |
Rehab Contingency (10%) | $4,100 | |
Rehab Holding Costs | $21,184 | |
Total Project Costs | $634,084 | |
Financing | ($429,030) | |
Cash out of Pocket | $205,054 | |
Rehab Project Length | 3 Month(s) |
Project Returns
Sales Price | $770,000 | |
Project Costs | ($634,084) | |
Sale Costs | ($29,600) | |
Profit Amount | $106,316 | |
Private Money Partner Share (25.00%) | $26,579 | |
Remaining Share | $79,737 | |
ROI | 51.85% | |
ROR | 207.39% | |
Unlevered ROI | 16.77% | |
Unlevered ROR | 67.07% |
Comps
| Address | Dist | Beds | Baths | Sqft | Sold ($) | $/sqft | Sale date |
| Irvine, CA | N/A | 4 | 3.0 | 2277 | $990,000 | $435 | 2017-06-09 |
| Irvine, CA | N/A | 4 | 3.0 | 2337 | $900,000 | $385 | 2017-07-21 |
| Irvine, CA | N/A | 5 | 3.0 | 2621 | $882,000 | $337 | 2017-08-10 |
| Average: | $924,000 | $386 | |||||
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $924,000 | |
Subject Sqft | 2,465 | |
Adjusted $/sqft | $375 |
Unadjusted Comps
Avg of Sales ARV | $924,000 | |
Subject Sqft | 2,465 | |
Avg of Sales $/sqft | $375 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $386 | |
Subject Sqft | 2,465 | |
Calculated Adj. ARV | $950,668 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $386 | |
Subject Sqft | 2,465 | |
Calculated ARV | $950,668 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | ||||
| ||||||||
| Address | Irvine, CA | Irvine, CA | Irvine, CA | Irvine, CA | ||||
| Sold Date | 1993-12-14 | 2017-06-09 | 2017-07-21 | 2017-08-10 | ||||
| Sold $ | $214,000 | $990,000 | $900,000 | $882,000 | ||||
| Sqft | 2,465 | 2,277 | 2,337 | 2,621 | ||||
| $/sqft | $87 | $435 | $385 | $337 | ||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 4.00 | 4.00 | $0 | 4.00 | $0 | 5.00 | $0 |
Bathrooms | $0 | 3.00 | 3.00 | $0 | 3.00 | $0 | 3.00 | $0 |
Garage spaces | $0 | 2.00 | 0.00 | $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 | 6,270.00 | 4,229.00 | $0 | 5,000.00 | $0 | 5,000.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | |||||
| Adjusted $/sqft | $375 | $435 | $385 | $337 | ||||
| Adjusted ARV $ | $924,000 | $990,000 | $900,000 | $882,000 | ||||
| Notes | ||||||||
CapEx (Replacements)
Using 10.00% of receipts. Starting monthly at $288/Month, totaling $14,896 over project term.
Property Photos