Bed: 2
Bath: 1
Square Feet: 780
Year Built: 1945
Location: Centrally located in Prairie Village. Quiet community, close to schools and shopping. In a desirable neighborhood with big demand.
Purchase Price: $176,000 (including Wholesale Fee)
Required Rehab
Contractor suggests adding dormers to make the upstairs a full master bedroom with ensuite adding more than 350 square feet and making the property a 3-bedroom – 2-bathroom home.
Bathrooms to be updated.
Kitchen replaced.
New paint, resurface and repair existing hardwood floors and new carpet for bedrooms. Rehab budget used was $45,000 and detailed by General Contractor.
Investment Details
ARV (After Repair Value): $305,000 Projected Profit (All Cash): $ 53,000
Average days on market for homes in this area: <48 Estimated Turnaround: 3 months
(NOTE: I should also mention that the $45K rehab includes a build out with an ARV of $305K; otherwise the rehab would be $15K and an ARV of $265 for a $58K profit as a cash deal)
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