2431 NW 9th St, Fort Lauderdale FL 33311

2431 NW 9th St, Fort Lauderdale, FL 33311

Singlefamily: 3 bedrooms , 1 bathroom

Year built: 1960, Size: 1252 SF

Investment strategy: Fix and Flip

Purchase Price$ 189,300

Rehab Estimate$ 20,000

Project Profit$ -18,320

After Repair Value$ 207,000

Investment Summary

After Repair Value	$ 207,000
Calculated Project Profit	$ -18,320
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.	101.11 %
Return on Investment	-8.60 %
Project Term	6 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).	$ 212,900
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 212,900

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 189,300
Buying Costs	$ 0
Total	$ 189,300

Repair Costs
Repair Costs Lump Sum	$ 20,000
Total	$ 20,000

Holding Costs
Monthly Holding Costs	$ 600
Total Months Held	6
Total	$ 3,600

Selling Costs
Commissions (6%)	$ 12,420
Selling Costs	$ 0
Total	$ 12,420

2431 Nw 9th St, Fort Lauderdale, FL 33311 is a single family home built in 1960. This property was last sold for $139,300 in 2020 and currently has an estimated value of $189,300. According to the Fort Lauderdale public records, the property at 2431 Nw 9th St, Fort Lauderdale, FL 33311 has approximately 1252 square feet, 3 beds and 1 baths with a lot size of 5,005 square feet. Nearby schools include Dillard Elementary School and Dillard High School.

Purchase Price	$ 189,300
Address	2431 NW 9th St , Fort Lauderdale, 33311, FL
Year Built	1960
Type	Singlefamily
Size	1252 SF
Bedrooms	3
Bathrooms	1

Property History

Date	Price	Change	Event
11/3/2020
2/28/2020
8/15/2018
8/28/2014
7/10/2014
4/29/2014
4/3/2014
3/21/2014
2/18/2014
9/22/2009
4/14/2005

Financial Breakdown

Purchase Price	$ 189,300
Purchase Costs	$ 0
Repair Costs	$ 20,000
Holding Costs	$ 3,600
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 212,900
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 212,900
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.	$ 212,900

Project Returns

Gross Rehab Profit	$ -18,320
Return on Investment	-8.60 %
Annualized ROI	-17.20 %
Internal Rate of Return	N/A

Timeline Assumptions

Rehab Period	3 months
Listing Period	3 months
Total Holding Period	6 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	6
Purchase/Sale	$ -189,300						$ 207,000
Closing Costs							$ -12,420
Holding Costs		$ -600	$ -600	$ -600	$ -600	$ -600	$ -600
Rehab Draws		$ -6,667	$ -6,667	$ -6,667
Cash Flow	$ -189,300	$ -7,267	$ -7,267	$ -7,267	$ -600	$ -600	$ 193,980

Sale Proceeds Breakdown

After Repair Value	$ 207,000
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.	$ 12,420
Repair Costs	$ 20,000
Holding Costs (6 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.	$ 3,600
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.	$ 189,300
Net Rehab Profit	$ -18,320

Property Report :

2431 NW 9th St, Fort Lauderdale, FL 33311

Executive Summary