2211 Webster Ave, Joliet IL 60436

2211 Webster Ave, Joliet, IL 60436

Singlefamily: 3 bedrooms , 2 bathrooms

Year built: 1952, Size: 884 SF

Investment strategy: Fix and Flip

Purchase Price$ 187,000

Rehab Estimate$ 60,000

Project Profit$ 27,671

After Repair Value$ 295,000

Investment Summary

After Repair Value	$ 295,000
Calculated Project Profit	$ 27,671
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.	83.73 %
Return on Investment	10.92 %
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).	$ 253,504
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 253,504

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 187,000
Buying Costs	$ 4,000
Total	$ 191,000

Repair Costs
Repair Costs Lump Sum	$ 60,000
Total	$ 60,000

Holding Costs
Monthly Holding Costs	$ 626
Total Months Held	4
Total	$ 2,504

Selling Costs
Commissions (3.5%)	$ 10,325
Selling Costs	$ 3,500
Total	$ 13,825

Southwest Joliet 3 bedroom, 1 1/2 bath ranch styled home that includes a side drive to a detached 2-car garage. All 3 bedrooms are located on the main level. Hardwood flooring on the main level is located in bedrooms and in the living room. U shaped kitchen offers 32 oak cabinets , prep area and table space for dining. Full, finished basement has a family room/bonus area, 1/2 bath/storage area and comes with a fireplace. Newer windows with the home. Detached garage, storage shed and sits on a deep 135 foot lot.

Purchase Price	$ 187,000
Address	2211 Webster Ave , Joliet, 60436, IL
MLS^® #	12184712
Listing Agent	Brent Wilk
Year Built	1952
Type	Singlefamily
Size	884 SF
Bedrooms	3
Bathrooms	2

Property History

Date	Price	Event
10/8/2024	192400	Listed
8/22/2024		Listing removed
6/4/2024	220000	Listed
10/5/2006	168000	Sold

Financial Breakdown

Purchase Price	$ 187,000
Purchase Costs	$ 4,000
Repair Costs	$ 60,000
Holding Costs	$ 2,504
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 253,504
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 253,504
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.	$ 253,504

Project Returns

Gross Rehab Profit	$ 27,671
Return on Investment	10.92 %
Annualized ROI	32.76 %
Internal Rate of Return	40.89 %

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	$ -187,000				$ 295,000
Closing Costs	$ 4,000				$ -13,825
Holding Costs		$ -626	$ -626	$ -626	$ -626
Rehab Draws		$ -30,000	$ -30,000
Cash Flow	$ -191,000	$ -30,626	$ -30,626	$ -626	$ 280,549

Sale Proceeds Breakdown

After Repair Value	$ 295,000
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.	$ 13,825
Repair Costs	$ 60,000
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.	$ 2,504
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.	$ 191,000
Net Rehab Profit	$ 27,671

Property Report :

2211 Webster Ave, Joliet, IL 60436

Executive Summary