Newport Street

TYPE: Fix and Flip

CASH INVESTED:  $240,000.00

CASH RETURNED:  $293,960.00 

DAYS: 106

YIELD (annualized):  77.4%

Purchase price:  $170,000 


Sale price:  $305,000


Renovation:  ~$72,000


Summary:  We bought this one from the owner in rough shape.  It needed a new interior.  We spent money where we could, but did not overhaul the yard because the market was too hot at this price point and buyers didn't mind.  Ending photos came out great once staged and the property sold within 1 week.


Initial scope was the following:

Full landscape of the front and back(8000)

Exterior powerwash and touch up paint (2000)

Add gutters/drainage to back roofs? (see video) (2000?)

New front door and new back door (1500)

2-3 new doors on the inside (750)

New paint job both levels (3000)

New carpet in bedrooms (1500)

Completely new bathroom (8000)

Refinish hardwood floor in main area (3500)

Replace flooring in kitchen and eating area (2500)

New countertops (keep cabinets and appliances) (4500)

New lighting in kitchen maybe (1500)

Refinish the whole drop ceiling in basement (6000)

Fix at least 3 holes in drywall, baseball sized and one of them basketball sized (3500)

Deep clean of the interior (500)

Repair on hole in a siding panel (1500)

Misc funds (3000)


MLS description:

Completely remodeled! All new flooring, tile, cabinets, countertops, light fixtures, landscaping, plumbing fixtures, etc. Upgrades include: New Stainless Steel appliances with a gas cook top, a large finished laundry room, Shaker style cabinets with soft close doors and drawers, quartz countertops, an irrigation system, six panel doors, central air conditioning, and double pane vinyl windows. In addition to the garage, enjoy a huge driveway with extra space for a boat, RV, or extra cars. The landscaping has been completely redone with new mulch and an irrigation system. NEW SOD IS INCLUDED, and will be installed as soon as weather allows. This is a house you have to come see for yourself!





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