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Single-family home with 3 bedrooms and 1 bathroom, spanning 1050 sq ft. Built in 1949 on a 7450 sq ft lot. Potential for a fourth bedroom upstairs pending closet installation. Requires renovations including facade flooring, doors, kitchen, and bathroom. The upstairs ceiling and some walls need repairs.

FIX AND FLIP SFH:

🛌 3 BEDS
🛀 1 BATH
🏠 1050 SQ FT
🛠️ Year Built: 1949
🏠 Lot Size: 7450 sqft

FINANCIALS:

Total acquisition costs: $51,000

   Purchase price: $50,000
   Estimated simo cc (2%): $1,000

Holding Costs: $45,200

   Rehabs: $30k - $40,000
   Taxes (6 months) $300
   Insurance + Utilities(6 months): $700
   Miscellaneous (8% of rehab): $3,200

Disposition Costs (realtor: 7%) $9,800

TOTAL INVESTED: $106,000
ARV: $140,000+
NET PROFIT: $34,000
NET ROI: 32%

The calculation was made with a $40k repairs amount, and the estimated repairs costs are 30-40k

COMPARABLES:

3649 Cash Dr Winston Salem 27107 - $208,500 (Flipped)
3510 Rosie St Winston Salem 27107 - $130,000 (As Is)
3208 Rosie St Winston Salem 27107 - $160,000 (Flipped)
2610 Marble St, Winston Salem, NC 27107- $177,000 (Flipped)
2840 Lomond St, Winston Salem, NC 27127 - $170,000 (Flipped)

REHABS:

4th bedroom can  be made upstairs but needs a closet
Needs renovation (facade, flooring, doors, kitchen and toilet)
The ceiling upstairs needs replacement
Some walls need repairs, while the majority just need painting and cleaning

EMD: $ 5000
Closing Date: 04/21/2024

OCCUPANCY :

Vacant

ACESS : 

On a LockBox
Call the Dispo Manager at (828) 662 9015

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WE OFFER FINANCING THRU EPIC CAPITAL FUNDING (OUR PREFERRED LENDER).

EPIC CAPITAL APPLICATION: (You can submit your info and deal directly with our underwriters and processors).

Hard Money Guidelines. (for your review)

Book Appointment for HML Funding.