3238 Lexington Rd, Montgomery AL 36106

3238 Lexington Rd, Montgomery, AL 36106

Singlefamily: 4 bedrooms , 2 bathrooms

Year built: 1940, Size: 2469 SF

Investment strategy: Wholesale deal offered to a flipper

Maximum Allowable Offer$ 97,900

Wholesale Fee$ 8,000

Flipper's Profit$ 50,000

Rehab Estimate$ 65,000

A-B Investment

Contract Price	$ 97,900
Wholesale Assignment Fee	$ 8,000
Wholesale Price	$ 105,900

B-C Investment

Purchase Price	$ 105,900
Closing Costs	$ 0
Rehab Estimate	$ 65,000
After Repair Value	$ 235,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 170,900
Flipper's Profit	$ 50,000
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.	72.72 %
Return on Investment	29.26 %
Project Term	3 months

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 105,900
Buying Costs	$ 0
Total	$ 105,900

Repair Costs
Repair Costs Lump Sum	$ 65,000
Total	$ 65,000

Holding Costs
Monthly Holding Costs	$ 0
Total Months Held	3
Total	$ 0

Selling Costs
Commissions (6%)	$ 14,100
Selling Costs	$ 0
Total	$ 14,100

3238 Lexington Rd, Montgomery, AL 36106 is a single family home built in 1940. According to the Montgomery public records, the property at 3238 Lexington Rd, Montgomery, AL 36106 has approximately 2469 square feet, with a lot size of 0.28 acres. Nearby schools include Bellingrath Jr High School, Lanier Senior High School and E D Nixon Elementary School.

Purchase Price	$ 105,900
Address	3238 Lexington Rd , Montgomery, 36106, AL
Year Built	1940
Type	Singlefamily
Size	2469 SF
Bedrooms	4
Bathrooms	2

Current Owner
Full name	Joe F Berry
Address	3238 LEXINGTON RD, MONTGOMERY, AL 36106-2340

3238 Lexington Rd Montgomery, AL 36106

$ 235,000

Property ARV
Singlefamily

Bldg type
2,469

SqFt
$ 95

per SqFt
4

Beds
2

Baths

#	Property address	Distance	Beds	Baths	SqFt	Bldg type	Date sold	Sale price	$/SqFt
1	631 Plymouth St	0.1mi	4	2	1,894	single_family	8/23/2022	$ 200,000	$ 106
2	3332 Wellington Rd	0.1mi	4	2	1,981	single_family	7/1/2022	$ 186,200	$ 94
3	3051 Mastin Ln	0.2mi	3	2	2,210	single_family	7/19/2022	$ 230,000	$ 104
4	3104 Dupont Rd	0.4mi	4	2	2,184	single_family	7/8/2022	$ 313,000	$ 143
Average:								$ 232,300	$ 112

Financial Breakdown

Purchase Price	$ 105,900
Purchase Costs	$ 0
Repair Costs	$ 65,000
Holding Costs	$ 0
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 170,900
Financing	$ 0
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 170,900
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.	$ 170,900

Project Returns

Gross Rehab Profit	$ 50,000
Return on Investment	29.26 %
Annualized ROI	117.04 %
Internal Rate of Return	0.06 %

Timeline Assumptions

Rehab Period	2 months
Listing Period	1 months
Total Holding Period	3 months

Month	0	1	2	3
Purchase/Sale	$ -155,900			$ 235,000
Closing Costs				$ -14,100
Holding Costs
Rehab Draws		$ -32,500	$ -32,500
Cash Flow	$ -155,900	$ -32,500	$ -32,500	$ 220,900

Sale Proceeds Breakdown

After Repair Value	$ 235,000
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.	$ 14,100
Repair Costs	$ 65,000
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.	$ 0
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.	$ 105,900
Net Rehab Profit	$ 50,000

Property Report: 3238 Lexington Rd, Montgomery WHOLESALE

Property Report :

3238 Lexington Rd, Montgomery, AL 36106

Executive Summary