This property is an A-class SFR located in a suburb of St. Louis known as Maryland Heights. We will be completing a full remodel including the kitchen, bathrooms, roof, HVAC, flooring, paint, etc.
We are also adding a 4th bedroom which should take our after-repair value from 360 to 400k conservatively. We will only take on large projects like this one when there is significant upside.
After paying Realtor commissions/selling costs we anticipate a net profit of $106,000.
The purchase price on this deal was funded by one of our private lenders, we self-funded the renovation.