Quick Flip Project

Irvine, CA

Bedrooms: 4, Bathrooms: 3.0, Sqft: 2465, Lot Size: 6270, Year Built: 1973
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REI/kit
(855) 234-FLIP
info@reikit.com
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Irvine

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

AddressDistBedsBathsSqftSold ($)$/sqftSale date
Irvine, CAN/A53.02621$882,000$3372017-08-10
Irvine, CAN/A43.02337$900,000$3852017-07-21
Irvine, CAN/A43.02277$990,000$4352017-06-09
Average:$924,000$385 

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
$951,490

Unadjusted Comps

Avg of Unadjusted $/sqft
$385
Subject Sqft
2,465
Calculated ARV
$949,025

CMA Detail

BasicsSubjectComparable Comparable Comparable
IrvineStreetview?size=800x600&location=14882 elm ave, irvine, ca 92606, usa&key=aizasydfydk6vpkjpqll4ujuw4tu4hwah4pmn3aStreetview?size=800x600&location=14891 mayten ave, irvine, ca 92606, usa&key=aizasydfydk6vpkjpqll4ujuw4tu4hwah4pmn3aStreetview?size=800x600&location=11 poinsettia, irvine, ca 92604, usa&key=aizasydfydk6vpkjpqll4ujuw4tu4hwah4pmn3a
AddressIrvine, CAIrvine, CAIrvine, CAIrvine, CA
Sold Date1993-12-142017-08-102017-07-212017-06-09
Sold $$214,000$882,000$900,000$990,000
Sqft2,4652,6212,3372,277
$/sqft$87$337$385$435
Features
Feature Values
UnitsUnitsAdjustmentUnitsAdjustmentUnitsAdjustment
Bedrooms
$04.005.00$04.00$04.00$0
Bathrooms
$03.003.00$03.00$03.00$0
Garage spaces
$02.000.00$00.00$00.00$0
Carport spaces
$00.000.00$00.00$00.00$0
Lot size sqft
$06,270.005,000.00$05,000.00$04,229.00$0
Adjustment Subtotals$0$0$0
Adjusted $/sqft$375$337$385$435
Adjusted ARV $$924,000$882,000$900,000$990,000
Notes

CapEx (Replacements)

Using 10.00% of receipts. Starting monthly at $288/Month, totaling $14,896 over project term.