Fix and Rent Property: 2515 N Howard Ave, Tampa FL 33607

2515 N Howard Ave, Tampa, FL 33607

Singlefamily: 2 bedrooms , 2 bathrooms

Year built: 1952, Size: 1104 SF

Investment strategy: Fix and Flip

We will be taking this property and turning it into a 3/2 and adding a garage with mother in law suite..

Purchase Price$ 165,000

Rehab Estimate$ 70,000

Project Profit$ 65,285

After Repair Value$ 330,000

Investment Summary

After Repair Value	$ 330,000
Calculated Project Profit	$ 65,285
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.	71.21 %
Return on Investment	72.17 %
Project Term	5 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).	$ 255,465
Financing	$ 165,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 90,465

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 165,000
Buying Costs	$ 3,125
Loan Costs & Points	$ 7,595
Total	$ 175,720

Repair Costs
Repair Costs Lump Sum	$ 70,000
Total	$ 70,000

Holding Costs
Monthly Holding Costs	$ 300
Monthly Loan Payments (interest)	$ 1,649
Total Months Held	5
Total	$ 9,745

Selling Costs
Commissions (2.5%)	$ 8,250
Selling Costs	$ 1,000
Total	$ 9,250

2515 N Howard Ave, Tampa, FL 33607 is a single family home built in 1952. According to the Tampa public records, the property at 2515 N Howard Ave, Tampa, FL 33607 has approximately 1104 square feet, 2 beds and 2 baths with a lot size of 3,120 square feet. Nearby schools include Monroe Middle School, Blake High School and Just Elementary School.

Purchase Price	$ 165,000
Address	2515 N Howard Ave , Tampa, 33607, FL
Year Built	1952
Type	Singlefamily
Size	1104 SF
Bedrooms	2
Bathrooms	2

Financial Breakdown

Purchase Price	$ 165,000
Purchase Costs	$ 10,720
Repair Costs	$ 70,000
Holding Costs	$ 9,745
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 255,465
Financing	$ 165,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 90,465
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.	$ 6,600
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.	$ 83,865

Project Returns

Gross Rehab Profit	$ 65,285
Return on Investment	72.17 %
Annualized ROI	173.21 %
Internal Rate of Return	828.13 %

Timeline Assumptions

Rehab Period	4 months
Listing Period	1 months
Total Holding Period	5 months

Financing		% of ARV
Down Payment	$ 0	0.00 %
Private	$ 165,000	50.00 %
2. Loan	$ 0	0.00 %

Private Financing of: Purchase price ($ 165,000)
Type	Amortized
Loan Amount	$ 165,000
Down payment (0%)	$ 0
Amortization	30 months
Interest Rate	12.00 %
Monthly Payment	$ 1,697.21

2. Loan (Refinance) Financing of: Refinance ($ 0)
Type	Amortized
Loan Amount	$ 0
Amortization	30 months
Interest Rate	6.00 %
Monthly Payment	$ 0.00

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 12.00% p.a.

Month	0	1	2	3	4	5
Purchase/Sale	$ -165,000					$ 330,000
Financing	$ 165,000					$ -164,759
Closing Costs	$ 10,720					$ -9,250
Holding Costs		$ -300	$ -300	$ -300	$ -300	$ -300
Rehab Draws		$ -17,500	$ -17,500	$ -17,500	$ -17,500
1. Loan Payment		$ -1,697	$ -1,697	$ -1,697	$ -1,697	$ -1,697
Cash Flow	$ -10,720	$ -19,497	$ -19,497	$ -19,497	$ -19,497	$ 153,994

Sale Proceeds Breakdown

After Repair Value	$ 330,000
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.	$ 9,250
Repair Costs	$ 70,000
Holding Costs (5 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.	$ 1,500
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.	$ 15,840
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.	$ 168,125
Net Rehab Profit	$ 65,285

Property Report :

Fix and Rent Property

2515 N Howard Ave, Tampa, FL 33607

Executive Summary

2515 N Howard Ave, Tampa, FL 33607

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

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Flip

Cash During Flip

Project Returns

Timeline Assumptions

Financing Overview

Cash Flow Forecast

Resale Analysis

Sale Proceeds Breakdown

Cost of Sale

Cost of Sale

Holding Costs

Holding Costs

Financing

Financing

Purchase incl. Costs

Purchase incl. Costs

Photos

Property Report: Fix and Rent Property FIX & FLIP

Property Report :

Fix and Rent Property

2515 N Howard Ave, Tampa, FL 33607

Executive Summary

2515 N Howard Ave, Tampa, FL 33607

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

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Flip

Cash During Flip

Project Returns

Timeline Assumptions

Financing Overview

Cash Flow Forecast

Resale Analysis

Sale Proceeds Breakdown

Cost of Sale

Cost of Sale

Holding Costs

Holding Costs

Financing

Financing

Purchase incl. Costs

Purchase incl. Costs

Photos