Stock street dorchester - fix and flip
Disposition Photos
This property was listed and sold through the MLS. The project underwent a major renovation, was staged for a modern look and feel, and professional photos were taken to demonstrate it's stand-out features.
Acquisition Photos
This property was highly distressed at the time of acquisition. The seller had dozens of cats, 3 dogs, and was a hoarder.
Project KPIs
Acquisition and Project Basics
Project Type: Fix and Flip
Property Characteristics: 2 bed, 1.5 bath Townhouse Style Condo
Location: Dorchester, MA
Acquisition Source: Off Market, Agent Pocket Listing
Construction/Improvement Timeline: 2 month
Total Timeline: 3.5 months
High Level Financials
Acquisition Price: $425,000
Rehab & Carrying Costs: $125,000
Disposition Price: $638,000
Investment Metrics
Debt or Equity: Private lender, 80% LTC on purchase and $85,000 towards construction
Investor Returns: $17,500 (10.5% interest rate on all borrowed funds)
Value Add Summary
High Level Scope of Work:
- Deep cosmetics throughout
- Minor layout change
- This location was an amazing, centrally located parcel, great for a walker's lifestyle.
- Providing a turn-key, modern condo with ample living and outdoor space was poised to sell faster than the traditional 3-decker condos in high-supply.
Value Add Highlights:
- We became the first condo in the complex to add a retractable awning and to pour a large patio pad. All of the HOA owners wanted to mirror this once we sold.
- Dressed up the garage for better curb appeal at the open house.
- All of the units in this complex had tiny kitchens, we blew open two walls and doubled the kitchen size, which certainly helped get $50k+ over the next highest selling unit in this complex.