House #44: Final Analysis

March 15, 2013 · 2 comments

We closed on the sale of The Retail House today…

After purchase, we did a rehab to get the property into rental shape. This included a LOT of clean out (an entire dumpsters worth of trash), painting the interior, repairing some siding, painting the exterior, replacing the carpet and vinyl flooring throughout the house, and two separate house cleaning services. A big part of the rehab was trying to remove as much of the smoke smell from the house as possible (the previous owners were smokers). Ultimately, we resold it to an investor who plans to keep it as a rental.

Our contractors owed us a good bit of work on this project, so we likely saved about $10,000 in labor costs that got applied directly to our profit. So, our profit on this one was probably about $10,000 more than it normally would have been.

Here are the final stats and financial details:


Here are the key timeline milestones:

  • Purchase Offer Date: 1/21/2013
  • Purchase Closing Date: 1/31/2013
  • Rehab Completion Date: 2/20/13
  • Sale Listing Date: 2/28/2013
  • First Sale Contract Date: 3/6/2013
  • Final Sale Contract Date: 3/6/2013
  • Sale Closing Date:3/15/2013


Here is the breakdown of financials for this project:

Retail House Financials

Final Statistics

Here are just some of the final statistics that I’ve been tracking for all my projects, and that summarize the success/failure of each project pretty well:

  • From Offer to Purchase Time: 10 Days
  • Rehab Time: 9 Days
  • Selling Days on Market: 6 Day
  • Selling Close Time: 9 Days
  • Total Hold Time (Close to Close): 43 Days
  • Total Profit: $28,829.47
  • Return on Investment (ROI): 35.06%
  • Annualized ROI: 297.62%

2 responses to “House #44: Final Analysis”

  1. Janelle McCarter says:

    I don’t understand. If you replaced all of the carpet and vinyl through the whole house and painted inside and out, how is there only $757 in materials to rehab?

  2. J Scott says:

    Hi Janelle,

    Most of the house was hardwoods, so not all the flooring in the house needed to be replaced. Ultimately, it was about 3 bedrooms worth of carpet and the vinyl in the kitchen. This was the bulk of the materials cost. The paint cost is included in the labor number, as our painter provides paint as part of his bid.

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