2213 15th Ave N, Birmingham AL 35234

2213 15th Ave N, Birmingham, AL 35234

Singlefamily: 3 bedrooms , 1 bathroom

Year built: 1924, Size: 1279 SF

Investment strategy: Fix and Flip

Purchase Price$ 55,000

Rehab Estimate$ 25,000

Project Profit$ 11,900

After Repair Value$ 160,000

Investment Summary

After Repair Value	$ 160,000
Calculated Project Profit	$ 11,900
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.	50.00 %
Return on Investment	14.25 %
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).	$ 83,500
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 83,500

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 55,000
Buying Costs	$ 1,500
Total	$ 56,500

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

Holding Costs
Monthly Holding Costs	$ 500
Total Months Held	4
Total	$ 2,000

Selling Costs
Commissions (6%)	$ 9,600
Selling Costs	$ 55,000
Total	$ 64,600

2213 15th Ave N, Birmingham, AL 35234 is a single family home built in 1924. According to the Birmingham public records, the property at 2213 15th Ave N, Birmingham, AL 35234 has approximately 1279 square feet, 3 beds and 1 baths with a lot size of 5,980 square feet. Nearby schools include Wilkerson Middle School and George Washington Carver High School.

Purchase Price	$ 55,000
Address	2213 15th Ave N , Birmingham, 35234, AL
Year Built	1924
Type	Singlefamily
Size	1279 SF
Bedrooms	3
Bathrooms	1

Date	Seller	Buyer	Price
1/11/2019	Judge Of Jefferson County\|security Invs	Tamica Mccoy,	$ 1,202

Current Owner
Full name	Tamica Mccoy
Address	2213 15TH AVE N , BIRMINGHAM, AL 35234-2845

2213 15th Ave N Birmingham, AL 35234

$ 160,000

Property ARV
Singlefamily

Bldg type
1,279

SqFt
$ 125

per SqFt
3

Beds
1

Baths

Financial Breakdown

Purchase Price	$ 55,000
Purchase Costs	$ 1,500
Repair Costs	$ 25,000
Holding Costs	$ 2,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 83,500
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 83,500
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.	$ 83,500

Project Returns

Gross Rehab Profit	$ 11,900
Return on Investment	14.25 %
Annualized ROI	42.75 %
Internal Rate of Return	57.62 %

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	$ -55,000				$ 160,000
Closing Costs	$ 1,500				$ -64,600
Holding Costs		$ -500	$ -500	$ -500	$ -500
Rehab Draws		$ -12,500	$ -12,500
Cash Flow	$ -56,500	$ -13,000	$ -13,000	$ -500	$ 94,900

Sale Proceeds Breakdown

After Repair Value	$ 160,000
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.	$ 64,600
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.	$ 2,000
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.	$ 56,500
Net Rehab Profit	$ 11,900

There is no financing selected in this deal.

Property Report: 2213 15th Ave N, Birmingham FIX & FLIP

Property Report :

2213 15th Ave N, Birmingham, AL 35234

Executive Summary