1717 FAULDS RD S, Clearwater FL 33756

1717 FAULDS RD S, Clearwater, FL 33756

Singlefamily: 4 bedrooms , 2 bathrooms

Year built: 1963, Size: 1854 SF

Investment strategy: Fix and Flip

Purchase Price$ 260,000

Rehab Estimate$ 30,000

Project Profit$ 25,000

After Repair Value$ 340,000

Investment Summary

After Repair Value	$ 340,000
Calculated Project Profit	$ 25,000
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.	85.29 %
Return on Investment	8.49 %
Project Term	3 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).	$ 294,600
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 294,600

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 260,000
Buying Costs	$ 4,000
Total	$ 264,000

Repair Costs
Repair Costs Lump Sum	$ 30,000
Total	$ 30,000

Holding Costs
Monthly Holding Costs	$ 200
Total Months Held	3
Total	$ 600

Selling Costs
Commissions (6%)	$ 20,400
Selling Costs	$ 0
Total	$ 20,400

A true 4 bedroom, 2 bathroom split floor plan home! Fantastic location! Convenient to shopping, the Interstate and minutes to World Famous Clearwater Beach. Flood insurance is NOT required. Roof was installed in 2017, carefree terrazzo flooring in most of the home. An open floor plan with a living, dining room combination and a separate large family room with a charming fireplace which leads out to a nice size screen enclosed porch. A very nice size yard. Come make this home your own today!

Purchase Price	$ 260,000
Address	1717 FAULDS RD S , Clearwater, 33756, FL
MLS^® #	U8108095
Year Built	1963
Type	Singlefamily
Size	1854 SF
Bedrooms	4
Bathrooms	2

1717 FAULDS RD S Clearwater, FL 33756

$ 340,000

Property ARV
Singlefamily

Bldg type
1,854

SqFt
$ 183

per SqFt
4

Beds
2

Baths

#	Property address	Distance	Beds	Baths	SqFt	Date sold	Sale price	$/SqFt
1	1684 Eden Ct	0.2mi	4	2.0	1,971	12/15/2020	$ 345,500	$ 175
2	1662 Eden Ct	0.2mi	4	2.0	2,266	11/04/2020	$ 456,000	$ 201
3	1798 Faulds Rd N	0.2mi	3	2.0	1,475	10/08/2020	$ 305,000	$ 207
4	1610 Rio Cir	0.3mi	3	3.0	1,908	06/29/2020	$ 275,000	$ 144
Average:							$ 345,375	$ 182

Financial Breakdown

Purchase Price	$ 260,000
Purchase Costs	$ 4,000
Repair Costs	$ 30,000
Holding Costs	$ 600
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 294,600
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 294,600
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.	$ 294,600

Project Returns

Gross Rehab Profit	$ 25,000
Return on Investment	8.49 %
Annualized ROI	33.96 %
Internal Rate of Return	40.16 %

Timeline Assumptions

Rehab Period	1 months
Listing Period	2 months
Total Holding Period	3 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
Purchase/Sale	$ -260,000			$ 340,000
Closing Costs	$ 4,000			$ -20,400
Holding Costs		$ -200	$ -200	$ -200
Rehab Draws		$ -30,000
Cash Flow	$ -264,000	$ -30,200	$ -200	$ 319,400

Sale Proceeds Breakdown

After Repair Value	$ 340,000
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.	$ 20,400
Repair Costs	$ 30,000
Holding Costs (3 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.	$ 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.	$ 264,000
Net Rehab Profit	$ 25,000

Property Report: 1717 FAULDS RD S, Clearwater FIX & FLIP

Property Report :

1717 FAULDS RD S, Clearwater, FL 33756

Executive Summary