click to enable zoom
Loading Maps
We didn't find any results
open map
View Roadmap Satellite Hybrid Terrain My Location Fullscreen Prev Next
Street View
Advanced Search

$ 0 to $ 0

We found 0 results. Do you want to load the results now ?
Advanced Search

$ 0 to $ 0

we found 0 results
Your search results

32+% ROI Restore This Large Home To It’s Former Beauty Close To Downtown

$ 222,550 All-in
2333 Carrollton Ave, ,
add to favorites
231
funded

Below is the investor’s portfolio outlining the details of the property and the flip project.

We have the property under contract.

Video coming soon.

Quick Summary:

  • Purchase + Rehab + Holding (total all-in): $218,550
  • Project duration (closing to closing): 7 months
  • Projected selling price: $320,000, but all comps have much less square footage
  • Projected net profit to investor(s) (before taxes; after profit share):$44,358
  • These are projections, not guarantees

Timeline:

  • Answer needed: TBD
  • Signed docs: TBD
  • Submit non-refundable deposit: TBD
  • Fund project account: TBD
  • Planned purchase-closing: 6 months
  • Reno start: 6/10/17
  • Reno duration: 4 months
  • Planned listing date: 11/10/17

Your Next Steps:

  • Best to post your question below in the comment section (or email meet@simplydoit.net)
  • Let us know if you are interested to participate.
  • Let us know which financing option (see below) is most relevant for you and approx. how much you have available.

High-level Details About Flip:

  • Offer has been accepted and is under contract.
  • The purchase price is $67,000
  • Comps in the area range from $250,000 to $350,000
  • Waiting on final rehab figures, but current estimate is $135,000 including holding costs.
  • Currently the property is under contract for a land trust and could be transferred to the buyer’s name (investor’s name) or investor/s will join as beneficiaries of the trust. 
  • Goal selling price is: $355,000
  • As always, this flip is first come, first serve.
  • All flips are eligible to be converted to long-term rentals; contact SDI for more details.

 

Financing/Purchasing Options:

  • You buy it solo cash / private loan.
  • We buy it using conventional financing that can finance both purchase and rehab – we have such a mortgage resource for you (we must be prepared to close with funds independent of the conventional financing and get reimbursed by lender funds).
  • We partner you up with one or more Simply Do It investor(s) using one of these methods.
  • Funds can be invested in the form of cash and retirement funds.

 

About Land Trusts:

It’s a way to hold real estate with much more simplicity than an entity or LLC and requires a trust agreement, beneficiaries’ agreement, appointment of trustee and appointment of director. These documents will be provided to the investor(s) who participate in this flip.

 

House currently features:

  • 6 bedrooms, 2 bath
  • Home was built in 1910 and is 4,925 sq. ft.
  • The house is a duplex that we convert a large single family home.
  • Currently house has 4 levels: basement, main level, 2nd floor and a usable space in attic.
  • Detached garage
  • It’s difficult to find this much square footage close to downtown.

 

After Renovation, the House will feature:

  • 5 bedrooms and 3.5 bathrooms, including a master bed/bath suite
  • Remodeled kitchen with new appliances
  • Newly restored hardwood throughout the home
  • Master Bedroom/Bath Suite
  • Newly remodeled loft
  • Painted exterior and new landscaping
  • House will have a beautiful open floor plan after renovation

 

Financial Analysis

Listed for   $79,000
Purchase Price   $67,000
Closing Costs   $2,550
Estimated Renovation & Holding   $135,000
Set-up Fees   $3,500
Finders Fee   $1,500
Prop Taxes, Insurance & Staging   $5,500
Reserve   $7,500
Est. All-in   $222,550
     
Target Selling date   1/1/2018
Target selling price   $315,000
Sales commission 5.0% $15,750
Sales expenses 2% $4,725
Projected Profit   $71,975
     
Project ROI   32%

Profit Sharing

Investor(s) 55% $39,586
Local team 21.5% $15,475
Simply Do It (Facilitator) 23.5% $16,914
     
Investor’s Return On Investment (ROI)   17.79%
Duration (months)   7
Annualized ROI   30%

 

COMPS MAP

 

 

COMPS

 

Status               Price                 Address                                        Bed/Bath Sqft Yr Basement

Sold $250,000   2030 North COLLEGE Indianapolis 4 3   1,712 2008 No    
    Sold $290,000   621 East 24th Street Indianapolis 3 3   2,644 1926 Yes    
    Sold $330,000   2320 North College Avenue Indianapolis 3 3   3,896 1920 Yes    
    Sold $335,000   2337 North College Avenue Indianapolis 4 3   4,331 1924 No  
    Sold $350,000   2353 North College Avenue N Indianapolis 3 3   3,392 1900 Yes

 

COMPS ANALYSIS

 

VIDEO TOUR

 

Address: 2333 Carrollton Ave
State/County:
Zip: 46205
Country: United States
Property Id : 1838
Price: $ 222,550 All-in
Property Size: 5,000 ft2
Rooms: 6
Bedrooms: 5
Bathrooms: 3.5
Year Built: 1910
ROI (ann): 32
walkscore57 / Somewhat Walkable more details here

One thought on “32+% ROI Restore This Large Home To It’s Former Beauty Close To Downtown

  • Dani Beit-Or
    on May 16, 2017

    We have it under contract and partially funded.

Leave a Reply

Your email address will not be published.