Fix and Flip Project
Mt Lake Park, Md
Bedrooms: 4, Bathrooms: 2.0, Sqft: 2880, Lot Size: 6000, Year Built: 1900
Brought to you by:
D&A Property Solutions
844-450-4000
marcus@dapropertysolutions.com
Notes
SOLID FIx and Flip Opportunity here!
Sits on a Corner Lot but no-outlet street.
Rehab: ~85k
Many upgrades have been made to the home over the years including hardwood floors, custom/hand routed wainscoting. Large Property does need general rehabbing and updating throughout.
ARV: 283k+
Asking: 94.5k OBO
Join our Buyer's List: https://www.dapsbuyshouses.com/i-want-one
Terms: Contract for sale, CASH or Hard Money, Sold Strictly As-Is
Financial Summary
Project Costs
Purchase Price | $94,500 | |
Purchase Costs | $3,308 | |
Rehab Costs | $85,000 | |
Rehab Contingency () | $0 | |
Rehab Holding Costs | $1,595 | |
Total Project Costs | $184,403 | |
Financing | $0 | |
Cash out of Pocket | $184,403 | |
Rehab Project Length | 5 Month(s) |
Project Returns
Sales Price | $283,865 | |
Project Costs | ($184,403) | |
Sale Costs | ($8,516) | |
Profit Amount | $90,946 | |
ROI | 49.32% | |
ROR | 118.37% | |
Unlevered ROI | 49.32% | |
Unlevered ROR | 118.37% |
Comps
| Address | Dist | Beds | Baths | Sqft | Sold ($) | $/sqft | Sale date |
| Mt Lake Park, Md | 0.17 miles | 4 | 3.0 | 2520 | $200,000 | $79 | 2023-11-06 |
| Mt Lake Park, Md | 0.12 miles | 4 | 3.0 | 2968 | $399,000 | $134 | 2022-02-22 |
| Mt Lake Park, Md | 0.26 miles | 4 | 2.0 | 2392 | $192,600 | $81 | 2022-07-20 |
| Mt Lake Park, Md | 0.42 miles | 3 | 2.0 | 1484 | $215,000 | $145 | 2023-10-31 |
| Average: | $251,650 | $110 | |||||
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $251,650 | |
Subject Sqft | 2,880 | |
Adjusted $/sqft | $87 |
Unadjusted Comps
Avg of Sales ARV | $251,650 | |
Subject Sqft | 2,880 | |
Avg of Sales $/sqft | $87 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $110 | |
Subject Sqft | 2,880 | |
Calculated Adj. ARV | $316,080 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $110 | |
Subject Sqft | 2,880 | |
Calculated ARV | $316,080 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | Comparable | |||||
| Image Not Available | Image Not Available | Image Not Available | Image Not Available | ||||||
| Address | Mt Lake Park, Md | Mt Lake Park, Md | Mt Lake Park, Md | Mt Lake Park, Md | Mt Lake Park, Md | |||||
| Sold Date | 2001-10-25 | 2023-11-06 | 2022-02-22 | 2022-07-20 | 2023-10-31 | |||||
| Sold $ | $18,500 | $200,000 | $399,000 | $192,600 | $215,000 | |||||
| Sqft | 2,880 | 2,520 | 2,968 | 2,392 | 1,484 | |||||
| $/sqft | $6 | $79 | $134 | $81 | $145 | |||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 4.00 | 4.00 | $0 | 4.00 | $0 | 4.00 | $0 | 3.00 | $0 |
Bathrooms | $0 | 2.00 | 3.00 | $0 | 3.00 | $0 | 2.00 | $0 | 2.00 | $0 |
Garage spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Carport spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Lot size sqft | $0 | 6,000.00 | 6,000.00 | $0 | 24,000.00 | $0 | 12,000.00 | $0 | 16,875.00 | $0 |
Basement sqft | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has pool | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has view | $0 | 1.00 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | $0 | ||||||
| Adjusted $/sqft | $87 | $79 | $134 | $81 | $145 | |||||
| Adjusted ARV $ | $251,650 | $200,000 | $399,000 | $192,600 | $215,000 | |||||
| Notes | ||||||||||
Purchase Costs
| Name | Type | Cost | |
| Closing | 3.50 % of Purchase | $3,308 | |
| Total Purchase Costs: | $3,308 | ||
Sale Costs
| Name | Type | Cost | |
| Commission | 3.00 % of Sale | $8,516 | |
| Total Sale Costs: | $8,516 | ||
OpEx: Utilities & Periodic Costs
| Name | Setup ($) | Amount ($/period) | Cost |
| Property Taxes | $0 | $997/ Year | $415 |
| Water | $40 | $30/Month | $190 |
| Electric | $40 | $90/Month | $490 |
| Insurance | $0 | $100/Month | $500 |
| Total OpEx Costs: | $1,595 | ||
Summary Rehab Estimate
| Category | ($) Amount | |
| Other | $85,000 | |
| Total Rehab Cost: | $85,000 |
Property Photos