Financials

Purchase Price: $230,000

Down Payment (5%): Grant for $11,700

Closing Costs: $2,000 + $4,000 (appraisal contingency)

Out of Pocket Acquisition Costs: $6,000

Rehab and Tool Costs: $10,000

Refinance Costs ($237,000 @ 3.75% for 30 years): -$2,000

Mortgage, Utility and Insurance Costs during Rehab: $0 (rented out rooms during rehab to cover cost)

After Repair Value (ARV): $265,000 

Rehab and Acquisition ROI: 400% ($14,000 / $56,000 * 100)

20 Year Project and First Year Rental Projections