4124 Merriman Drive Flip Analysis
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July 2, 2011
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Dani Beit-Or
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Blog, Dallas, Fix and Flip, Foreclosures, Investment Properties, Properties, Single Family
Category: fix and flip 
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[postoffice_div id=”snap-shot-analysis” name=”Snap Shot Analysis”]
| Snap Shot | |
| Purchase costs | $87,000.00 |
| Rehab costs | $20,000.00 |
| Holding costs | $1,975.00 |
| Total Investment | $108,975.00 |
| Selling price | $145,000.00 |
| Selling expenses | $11,800.00 |
| Net Selling price | $133,200.00 |
| Raw Profit (before financing) | $24,225.00 |
| Profit Scenarios / Financing | Cash | Conventional | Private |
| Total Investment (down-payment) | $108,975.00 | $29,000.00 | $50,750.00 |
| Financing expenses | $0.00 | $5,613.18 | $8,617.34 |
| Profit | $24,225.00 | $18,611.82 | $15,607.66 |
| ROI | 22.23% | 64.18% | 30.75% |
| Annualized ROI | 44.46% | 128.36% | 61.51% |
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[postoffice_div id=”detailed-analysis” name=”Detailed Analysis”]
| OVERVIEW | ||
| Address | 4124 Merriman Drive | |
| Purchase Price | $85,000.00 | |
| ARV (After Repair Value) | $145,000.00 | |
| Estimated Duration Months (Purchase to Sale) | 5 | |
| PURCHASE COSTS: | ||
| Purchase Price | $85,000.00 | |
| Inspection(s) | $275.00 | |
| Appraisal(s) | $450.00 | |
| Survey(s) | $275.00 | |
| Lender Fees/Costs | $0.00 | |
| Closing Costs | $1,000.00 | |
| Other | $0.00 | |
| Total: | $87,000.00 | |
| REHAB COSTS | ||
| Labor (from page 2) | $10,000.00 | |
| Materials (from page 2) | $10,000.00 | |
| Total: | $20,000.00 | |
| HOLDING COSTS | ||
| Property Taxes | 2.40% | $850.00 |
| Insurance | 60 | $300.00 |
| Utilities | 65 | $325.00 |
| Lawn Care | 50 | $250.00 |
| Other | 50 | $250.00 |
| Total: | $1,975.00 | |
| FINANCING COSTS | ||
| Mortgage Payments (conventional) | $5,613.18 | |
| SELLING COSTS | ||
| Commission To Agents | 6.00% | $8,700.00 |
| Buyer Home Warranty | $350.00 | |
| Buyer Termite Letter | $0.00 | |
| Buyer’s Closing Costs | $2,250.00 | |
| Seller’s Closing Costs | $500.00 | |
| Total: | $11,800.00 | |
| Selling Price | $145,000.00 | |
| Net Selling Price | $133,200.00 | |
| Total Investment | $114,588.18 | |
| PROFIT: | $18,611.82 | |
| ROI | 16.24% | |
| Annualized ROI | 38.98% |
| Financial Analysis Options | Cash | Conventional | Private |
| Financed % | 0 | 80.00% | 65.00% |
| Financed Amount (ARV) | 0 | $116,000.00 | $94,250.00 |
| Rate | 0 | 5.50% | 12.00% |
| Points | 2 | 4 | |
| Points ($) | $2,320.00 | $3,770.00 | |
| Monthly Payment | $658.64 | $969.47 | |
| Payments Per Period | 5 | $3,293.18 | $4,847.34 |
| Total Loan | $5,613.18 | $8,617.34 |
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Area Information
[srp_profile lat=”33.036584″ lng=”-96.64807989999997″ address=”4124 Merriman Drive” city=”plano” state=”TX” zip_code=”75074″]
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