Property Report :

1447 Summit Lot Split Project

1447 Summit Ave, Cardiff, CA 92007

Real Estate Analysis

Created on: Apr 14, 2025

Author: Scott Travasos

1447 Summit Ave, Cardiff, CA 92007

Singlefamily: 4 bedrooms , 4 bathrooms

Year built: 1955, Size: 2297 SF

Investment strategy: Fix and Flip

Property consists of just shy of an acre with a 2 br. house, a 1 br. apartment & 2 studios

Purchase Price$ 2,650,000

Rehab Estimate$ 50,000

Project Profit$ 961,105

After Repair Value$ 4,300,000

Investment Summary

After Repair Value	$ 4,300,000
Calculated Project Profit	$ 961,105
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.	62.79 %
Return on Investment	77.27 %
Project Term	24 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).	$ 3,098,895
Financing	$ 1,855,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 1,243,895

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 2,650,000
Buying Costs	$ 20,000
Loan Costs & Points	$ 21,550
Total	$ 2,691,550

Repair Costs
Other Repair Costs	$ 50,000
Total	$ 50,000

Holding Costs
Monthly Holding Costs	$ 2,600
Monthly Loan Payments (interest)	$ 12,289
Total Months Held	24
Total	$ 357,345

Selling Costs
Commissions (5%)	$ 215,000
Selling Costs	$ 25,000
Total	$ 240,000

The gameplan is to split the lot into 2 roughly half acre parcels with architectural plans and sell them entitled to an end user

Purchase Price	$ 2,650,000
Address	1447 Summit Ave , Cardiff, 92007, CA
Year Built	1955
Type	Singlefamily
Size	2297 SF
Bedrooms	4
Bathrooms	4

Breakdown by Scope of Work

Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	N/A	Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	N/A	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	N/A	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	N/A
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	N/A	Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	N/A	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	N/A	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	N/A
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	N/A	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	N/A	Net Entitlement Costs Net Entitlement Costs Net Entitlement Costs	$ 50,000
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	N/A	Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	N/A	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	N/A		N/A
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	N/A	Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	N/A	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	N/A		N/A
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	N/A	Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	N/A	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	N/A
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	N/A	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	N/A	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	N/A
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	N/A	Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	N/A	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	N/A
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	N/A	Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	N/A	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	N/A
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	N/A	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	N/A
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	N/A	Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	N/A	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	N/A
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	N/A	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	N/A	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	N/A
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	N/A	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	N/A	Net Entitlement Costs Net Entitlement Costs Net Entitlement Costs	$ 50,000
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	N/A	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	N/A		N/A
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	N/A	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	N/A		N/A
Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	N/A	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	N/A
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	N/A	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	N/A
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	N/A	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	N/A
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	N/A
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	N/A	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	N/A
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	N/A	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	N/A
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	N/A	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	N/A
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	N/A	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	N/A
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	N/A	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	N/A
Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	N/A	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	N/A
Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	N/A	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	N/A
Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	N/A	Net Entitlement Costs Net Entitlement Costs Net Entitlement Costs	$ 50,000
Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	N/A		N/A
Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	N/A		N/A
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	N/A
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	N/A
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	N/A
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	N/A
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	N/A
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	N/A
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	N/A
Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	N/A
Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	N/A
Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	N/A
Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	N/A
Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	N/A
HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	N/A
Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	N/A
Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	N/A
Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	N/A
Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	N/A
Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	N/A
Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	N/A
Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	N/A
Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	N/A
Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	N/A
Net Entitlement Costs Net Entitlement Costs Net Entitlement Costs	$ 50,000
	N/A
	N/A
								Total Rehab Estimate	$ 50,000

Financial Breakdown

Purchase Price	$ 2,650,000
Purchase Costs	$ 41,550
Repair Costs	$ 50,000
Holding Costs	$ 357,345
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 3,098,895
Financing	$ 1,855,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 1,243,895
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.	$ 813,550
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.	$ 430,345

Project Returns

Gross Rehab Profit	$ 961,105
Return on Investment	77.27 %
Annualized ROI	38.63 %
Internal Rate of Return	39.66 %

Timeline Assumptions

Rehab Period	22 months
Listing Period	2 months
Total Holding Period	24 months

Financing		% of ARV
Down Payment	$ 795,000	18.49 %
70% Loan	$ 1,855,000	43.14 %

70% Loan Financing of: Purchase price ($ 2,650,000)
Type	Interest-Only
Loan Amount	$ 1,855,000
Down payment (30%)	$ 795,000
Loan term	24 months
Interest Rate	7.95 %
Monthly Payment	$ 12,289.38
Profit Split	50.00 %

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 7.95% p.a.

Month	0	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24
Purchase/Sale	$ -2,650,000																								$ 4,300,000
Financing	$ 1,855,000																								$ -1,855,000
Closing Costs	$ 41,550																								$ -240,000
Holding Costs		$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600	$ -2,600
Rehab Draws		$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273	$ -2,273
Loan Payment		$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289	$ -12,289
Cash Flow	$ -836,550	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -17,162	$ -14,889	$ 2,190,111

Sale Proceeds Breakdown

After Repair Value	$ 4,300,000
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.	$ 240,000
Repair Costs	$ 50,000
Holding Costs (24 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.	$ 62,400
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.	$ 316,495
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.	$ 2,670,000
Capital Partner Profit (50%)	$ 480,553
Net Rehab Profit	$ 480,553

Property Report: 1447 Summit Lot Split Project FIX & FLIP

Property Report :

1447 Summit Lot Split Project

1447 Summit Ave, Cardiff, CA 92007

Executive Summary

1447 Summit Ave, Cardiff, CA 92007

Investment Summary

70% Rule

70% Rule

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Project Cost Breakdown

Property Description

Rehab Estimates

Breakdown by Scope of Work

Foundation

Foundation

Garage

Garage

Tiling

Tiling

Permits & Fees

Permits & Fees

Concrete

Concrete

Landscaping

Landscaping

Doors & Trim

Doors & Trim

Miscellaneous

Miscellaneous

Masonry

Masonry

Demolition

Demolition

Flooring

Flooring

Net Entitlement Costs

Net Entitlement Costs

Siding & Paint

Siding & Paint

Framing & Drywall

Framing & Drywall

Cabinets

Cabinets

Decks & Porches

Decks & Porches

Electrical

Electrical

Painting

Painting

Roofing

Roofing

Plumbing

Plumbing

Appliances

Appliances

Doors & Windows

Doors & Windows

HVAC

HVAC

Dumpster

Dumpster

Foundation

Foundation

Demolition

Demolition

Painting

Painting

Concrete

Concrete

Framing & Drywall

Framing & Drywall

Appliances

Appliances

Masonry

Masonry