1331 Highland Ave, Lockport IL 60441

1331 Highland Ave, Lockport, IL 60441

Singlefamily: , 1 bathroom

Year built: 1962, Size: 1276 SF

Investment strategy: Fix and Flip

Purchase Price$ 101,000

Rehab Estimate$ 25,000

Project Profit$ 29,600

After Repair Value$ 170,000

Investment Summary

After Repair Value	$ 170,000
Calculated Project Profit	$ 29,600
70% Rule 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV. 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV.	74.12 %
Return on Investment	22.66 %
Project Term	4 months

Financial Breakdown

Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 130,600
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 130,600

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 101,000
Buying Costs	$ 3,000
Total	$ 104,000

Repair Costs
Repair Costs Lump Sum	$ 25,000
Total	$ 25,000

Holding Costs
Monthly Holding Costs	$ 400
Total Months Held	4
Total	$ 1,600

Selling Costs
Commissions (4%)	$ 6,800
Selling Costs	$ 3,000
Total	$ 9,800

1331 Highland Ave, Lockport, IL 60441 is a single family home built in 1962. This property was last sold for $105,000 in 2004 and currently has an estimated value of $167,700. According to the Lockport public records, the property at 1331 Highland Ave, Lockport, IL 60441 has approximately 1276 square feet, with a lot size of 3,336 square feet. Nearby schools include Lockport Township High School East, Ludwig Elementary School, Oak Prairie Jr High School, Reed Elementary School and Walsh Elementary School.

Purchase Price	$ 101,000
Address	1331 Highland Ave , Lockport, 60441, IL
Year Built	1962
Type	Singlefamily
Size	1276 SF
Bathrooms	1

Property History

Date	Price	Change	Event
9/9/2004
3/2/2004
3/11/1996
2/1/1994
12/12/1991
8/1/1986
5/1/1985

Financial Breakdown

Purchase Price	$ 101,000
Purchase Costs	$ 3,000
Repair Costs	$ 25,000
Holding Costs	$ 1,600
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 130,600
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 130,600
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 0
Cash During Flip Cash During Flip Shows the cash amount remaining to fund the Flip. Cash During Flip Shows the cash amount remaining to fund the Flip.	$ 130,600

Project Returns

Gross Rehab Profit	$ 29,600
Return on Investment	22.66 %
Annualized ROI	67.98 %
Internal Rate of Return	94.24 %

Timeline Assumptions

Rehab Period	2 months
Listing Period	2 months
Total Holding Period	4 months

There is no financing selected in this deal.

This charts shows the influence of leverage on Return on Investment (ROI). Purchase price is considered as the Value in the LTV ratio here. The calculation considers all buying, holding, repair and selling costs, purchase price, ARV and an interest-only loan with rate of 12.00% p.a.

Month	0	1	2	3	4
Purchase/Sale	$ -101,000				$ 170,000
Closing Costs	$ 3,000				$ -9,800
Holding Costs		$ -400	$ -400	$ -400	$ -400
Rehab Draws		$ -12,500	$ -12,500
Cash Flow	$ -104,000	$ -12,900	$ -12,900	$ -400	$ 159,800

Sale Proceeds Breakdown

After Repair Value	$ 170,000
Cost of Sale Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other. Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other.	$ 9,800
Repair Costs	$ 25,000
Holding Costs (4 months) Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included. Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included.	$ 1,600
Financing Costs Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs. Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs.	$ 0
Purchase Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc. Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc.	$ 104,000
Net Rehab Profit	$ 29,600

Property Report :

1331 Highland Ave, Lockport, IL 60441

Executive Summary