Cottage Street, Stoneham - Fix and Flip
Disposition Photos
This property was listed and sold through the MLS. This house needed everything - Roof, windows, grounds, electric, plumbing, hvac and finishes. We even replaced all major columns, beams and footings to level each floor.
Acquisition Photos
This property's location checked every box, but the structure itself needed substantial work. Even at only 1,200 square feet, this is one of the deepest rehabs we have done.
Project KPIs
Acquisition and Project Basics
Project Type: Fix and Flip
Property Characteristics: 3 bed, 2 bath
Location: Stoneham, MA
Acquisition Source: MLS
Construction/Improvement Timeline: 3 months
Total Timeline: About 6 months due to title issues at closing
High Level Financials
Acquisition Price: $375,000
Rehab & Carrying Costs: $275,000
Disposition Price: $780,000
Investment Metrics
Debt or Equity: Private lender - 80% Loan to purchase, $140k in rehab funds
Investor Returns: $35k in interest payment
Annualized Rate of Return to Investor: 10.5%
Value Add Summary
High Level Scope of Work:
- Install LVL beams, lally columns, and footings in the basement
- Replace all plumbing, electric, and install ductless splits
- Rework entire floorplan, making 3 "legal" bedrooms and 2 large baths
- Install a premium kitchen
Value Add Highlights:
- Expanded the off-street parking area
- Added 3rd bedroom to stand out from the smaller 2-bed listings
- Provide a truly turn-key home for buyers, maintenance-free for years to come