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Fix & Flip Ready: $99K Buy-In, $190K Potential!
$99,000
Location
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Lafayette, IN 47904
Details
- Type: house
- Bedrooms: 2
- Bathrooms: 1
- Square Feet:
- Total Units: 1
Description
🏠 Pro Forma – 2009 Elk St, Lafayette, IN
| Category | Amount |
|---|---|
| Purchase Price | $99,000 |
| Renovation Costs | $40,000 |
| Total Investment | $139,000 |
💰 Projected After Repair Value (ARV)
| Estimated ARV | $190,000 |
| Equity (ARV - Total Investment) | $51,000 |
| ROI (Equity / Total Investment) | 36.7% |
🏦 Exit Strategy 1: Flip
| Selling Price (ARV) | $190,000 |
| Closing Costs (8%) | -$15,200 |
| Net Sale Proceeds | $174,800 |
| Net Profit (Before Taxes) | $35,800 |
💸 Exit Strategy 2: Rent
Assume:
Monthly Rent: $1,500
Vacancy: 5%
Property Taxes: $2,000/year
Insurance: $1,200/year
Maintenance/CapEx: 10%
Property Management: 8%
| Gross Rent (Monthly) | $1,500 |
| Gross Rent (Yearly) | $18,000 |
| Vacancy Allowance | -$900 |
| Net Rent | $17,100 |
Annual Expenses:
Property Taxes: $2,000
Insurance: $1,200
Maintenance (10%): $1,800
Property Management (8%): $1,440
| Total Expenses | -$6,440 |
| Net Operating Income | $10,660 |
If purchased with cash:
Cash-on-Cash Return: 7.7% (NOI / $139,000)