South Worcester Street Norton, MA - Fix and Flip
Acquisition Photos
This property is currently under agreement, pending short sale approval by the bank. Located in Norton, MA, this property is set on a picturesque road that abuts a golf course and conservation land. It may be heavily distressed at the moment, but some minor layout changes and improved baths and kitchen will make this house an excellent family-home.
Check out the investments page to learn how you can make a nice return on this project!
Project KPIs
Acquisition and Project Basics
Project Type: Fix & Flip
Property Characteristics: 3bed, 1.5 bath
Location: Norton, MA
Acquisition Source: Wholesaler
Construction/Improvement Timeline: 3 months after purchase
Total Timeline: 5 months total after purchase
High Level Financials
Acquisition Price: $255,000
Rehab & Carrying Costs: $115,000
Estimated Disposition Price: $450,000
Investment Metrics
Debt or Equity: We will raise 80% of the purchase price and $100,000 for the renovations.
Investor Returns: 10.5% APR is offered
Value Add Summary
High Level Scope of Work:
- Deep cosmetics to solve the pet smell issue
- Replace the electric and panel
- Replace main plumbing stack
- Reworked and enlarged kitchen / dining space
- Reworked bathrooms
Value Add Highlights:
- Living space will be added to the walk-out basement
- Main level will have a couple walls knocked out to highlight the size of the living areas
- Front porch will be rebuilt, creating eye-catching curb appeal