Hemingway: 4377 Hemingway Dr, Grand Prairie TX 75052

4377 Hemingway Dr, Grand Prairie, TX 75052

Singlefamily: 3 bedrooms , 2 bathrooms

Year built: 1985, Size: 1597 SF

Investment strategy: Fix and Flip

Purchase Price$ 139,551

Rehab Estimate$ 15,000

Project Profit$ 20,000

After Repair Value$ 200,000

Investment Summary

After Repair Value	$ 200,000
Calculated Project Profit	$ 20,000
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.	77.28 %
Return on Investment	Infinite ROI
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).	$ 167,000
Financing	$ 190,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ -23,000

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 139,551
Buying Costs	$ 6,000
Total	$ 145,551

Repair Costs
Repair Costs Lump Sum	$ 15,000
Total	$ 15,000

Holding Costs
Monthly Holding Costs	$ 500
Monthly Loan Payments (interest)	$ 790
Total Months Held	5
Total	$ 6,449

Selling Costs
Commissions (6%)	$ 12,000
Selling Costs	$ 1,000
Total	$ 13,000

Great Value 2 story home with 3 Bed 2.5 Bath house, with a 2 car garage. This home backs to a walking trail and creek. 2 stories (all bedrooms 2nd floor) 2 living areas, private inground pool.

Purchase Price	$ 139,551
Address	4377 Hemingway Dr , Grand Prairie, 75052, TX
Year Built	1985
Type	Singlefamily
Size	1597 SF
Bedrooms	3
Bathrooms	2

Financial Breakdown

Purchase Price	$ 139,551
Purchase Costs	$ 6,000
Repair Costs	$ 15,000
Holding Costs	$ 6,449
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 167,000
Financing	$ 190,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ -23,000
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.	$ 10,000
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.	$ -33,000

Project Returns

Gross Rehab Profit	$ 20,000
Return on Investment	Infinite ROI
Annualized ROI	Infinite ROI
Internal Rate of Return	N/A

Timeline Assumptions

Rehab Period	3 months
Listing Period	2 months
Total Holding Period	5 months

Financing		% of ARV
Down Payment	$ 10,000	5.00 %
Loan	$ 190,000	95.00 %

Loan Financing of: After Repair Value ($ 200,000)
Type	Amortized
Loan Amount	$ 190,000
Down payment (5%)	$ 10,000
Amortization	30 months
Interest Rate	5.00 %
Monthly Payment	$ 1,019.96

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 5.00% p.a.

Month	0	1	2	3	4	5
Purchase/Sale	$ -139,551					$ 200,000
Financing	$ 190,000					$ -188,849
Closing Costs	$ 6,000					$ -13,000
Holding Costs		$ -500	$ -500	$ -500	$ -500	$ -500
Rehab Draws		$ -5,000	$ -5,000	$ -5,000
Loan Payment		$ -1,020	$ -1,020	$ -1,020	$ -1,020	$ -1,020
Cash Flow	$ 44,449	$ -6,520	$ -6,520	$ -6,520	$ -1,520	$ -3,369

Sale Proceeds Breakdown

After Repair Value	$ 200,000
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.	$ 13,000
Repair Costs	$ 15,000
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.	$ 2,500
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.	$ 3,949
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.	$ 145,551
Net Rehab Profit	$ 20,000

Property Report :

Hemingway

4377 Hemingway Dr, Grand Prairie, TX 75052

Executive Summary

4377 Hemingway Dr, Grand Prairie, TX 75052

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: Hemingway FIX & FLIP

Property Report :

Hemingway

4377 Hemingway Dr, Grand Prairie, TX 75052

Executive Summary

4377 Hemingway Dr, Grand Prairie, TX 75052

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