1405 S Federal Hwy Apt 101, Delray Beach FL 33483

1405 S Federal Hwy Apt 101, Delray Beach, FL 33483

Condominium: 2 bedrooms , 2 bathrooms

Year built: 1984, Size: 880 SF

Investment strategy: Fix and Flip

Purchase Price$ 280,000

Rehab Estimate$ 50,000

Project Profit$ 29,735

After Repair Value$ 370,000

Investment Summary

After Repair Value	$ 370,000
Calculated Project Profit	$ 29,735
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.	89.19 %
Return on Investment	8.74 %
Project Term	5 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).	$ 340,265
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 340,265

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 280,000
Buying Costs	$ 7,000
Total	$ 287,000

Repair Costs
Repair Costs Lump Sum	$ 50,000
Total	$ 50,000

Holding Costs
Monthly Holding Costs	$ 653
Total Months Held	5
Total	$ 3,265

Selling Costs
Commissions (0%)	$ 0
Selling Costs	$ 0
Total	$ 0

Location, location, location! You enter this first floor condo through a private-gate, with an amazing tiled courtyard and the kitchen has glass sliders that lead out to the courtyard. Two bedrooms and two full baths, tile floors throughout, freshly painted, new A/C 2021 and full size washer/dryer. Large Heated pool, Jacuzzi-spa and Barbecue area. You can live here without a car, everything within walking distance. Located in the heart of Delray Beach, walk to Publix, Trader Joe's, only 1.5 miles to Atlantic Avenue within the Pedicab pick up, Delray Market Sobewff, great restaurants, shopping or walk over the Linton bridge to the beach. Pet friendly! 25lbs. or less.

Purchase Price	$ 280,000
Address	1405 S Federal Hwy Apt 101 , Delray Beach, 33483, FL
MLS^® #	F10281672
Listing Agent	Stephen Atria
Listing Broker	RE/MAX Complete Solutions
Year Built	1984
Type	Condominium
Size	880 SF
Bedrooms	2
Bathrooms	2

Property History

Date	Price	Change	Event
9/23/2013
7/28/2003
10/14/1993

1405 S Federal Hwy Apt 101 Delray Beach, FL 33483

$ 370,000

Property ARV
Condominium

Bldg type
880

SqFt
$ 420

per SqFt
2

Beds
2

Baths

Financial Breakdown

Purchase Price	$ 280,000
Purchase Costs	$ 7,000
Repair Costs	$ 50,000
Holding Costs	$ 3,265
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 340,265
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 340,265
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.	$ 340,265

Project Returns

Gross Rehab Profit	$ 29,735
Return on Investment	8.74 %
Annualized ROI	20.98 %
Internal Rate of Return	23.56 %

Timeline Assumptions

Rehab Period	2 months
Listing Period	3 months
Total Holding Period	5 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	5
Purchase/Sale	$ -280,000					$ 370,000
Closing Costs	$ 7,000
Holding Costs		$ -653	$ -653	$ -653	$ -653	$ -653
Rehab Draws		$ -25,000	$ -25,000
Cash Flow	$ -287,000	$ -25,653	$ -25,653	$ -653	$ -653	$ 369,347

Sale Proceeds Breakdown

After Repair Value	$ 370,000
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.	$ 0
Repair Costs	$ 50,000
Holding Costs (5 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.	$ 3,265
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.	$ 287,000
Net Rehab Profit	$ 29,735

Property Report: 1405 S Federal Hwy Apt 101, Delray Beach FIX & FLIP

Property Report :

1405 S Federal Hwy Apt 101, Delray Beach, FL 33483

Executive Summary