904 Dewey St, Kinston, NC 28501
Great opportunity in Dewey St, Kinston!
This Kinston home consists of 3 bd/ 3.5 ba/ 3,616 sqft of living space on a 0.08 Acres lot. Don’t miss out on this great opportunity!
Investment and Property Details
At Strandpark Properties, we believe in creating win-win opportunities. By allowing our clients to sponsor rehab projects, we not only share the financial success but also foster a collaborative partnership. While we have the resources to fund these projects ourselves, we value the insights and involvement of our clients. This unique approach allows you to earn 60% return on your investment when the property is flipped, making it a lucrative opportunity for everyone involved. Explore our current deals and join us in transforming properties into profitable ventures.
Purchase price:
$120,000
After Repair Value:
$365,000
Investment Duration:
72 Days
Return on Investment:
60%
Rehab Cost
$78,000
Agreed Purchase Price:
The end buyer has agreed to purchase the property for $340,000 and has made a 25% non refundable deposit towards the ARV.
Security
Rock-solid, legally binding joint venture agreement guaranteeing your investment return and protection regardless of project outcome.
Lead Contractor
John Lawrence.
Rehab Cost Breakdown
I. Pre-Rehabilitation Costs:
- Inspection & Assessment: $1,500 (Structural engineer, general home inspector, HVAC specialist)
- Hazardous Material Testing: $1,000 (Asbestos, lead paint, mold – crucial for older homes)
II. Demolition & Prep: $7,000
- Interior Demolition: $4,000 (Removing damaged drywall/plaster, gutting bathrooms, some kitchen demo)
- Debris Removal & Dumpster: $2,000 (Multiple dumpster rentals likely needed)
- Site Clearing: $1,000 (Overgrown vegetation, debris removal)
III. New Materials & Installation:
- Kitchen: $15,000
- Cabinets: $5,000 (Mid-grade shaker style cabinets)
- Countertops: $3,000 (Quartz, example: Silestone or Cambria)
- Appliances: $5,000 (Refrigerator, range, dishwasher – consider energy-efficient models)
- Flooring: $1,000 (Tile or LVP, example: Luxury Vinyl Plank from Shaw or Armstrong)
- Backsplash: $1,000 (Ceramic tile)
- Bathrooms (3.5): $8,000
- Vanities: $2,000 (Pre-fabricated vanities from home improvement stores)
- Toilets: $1,500 (Standard, efficient models)
- Showers/Tubs: $3,000 (Tile surrounds, new fixtures, example: Porcelain or ceramic tile)
- Flooring: $1,500 (Tile, example: Porcelain or ceramic)
- Bedrooms (3): $8,000
- Flooring: $5,000 (Carpet or LVP, example: LVP from a reputable brand)
- Trim & Baseboards: $3,000 (Paint-grade wood)
- Living Areas: $8,000
- Flooring: $3,000 (Hardwood or LVP, example: Engineered hardwood or high-end LVP)
- Trim & Baseboards: $2,000 (Paint-grade wood)
- Fireplace refacing: $3,000
- Whole House: $17,000
- Drywall & Finishes: $3,000 (Replacing damaged areas, painting -Benjamin Moore paint)
- Electrical: $2,000 (Updating wiring, new fixtures – licensed electrician)
- Plumbing: $2,000 (Addressing leaks, updating fixtures – licensed plumber)
- HVAC: $2,000 (Servicing existing system, minor upgrades)
- Doors & Windows: $4,000 (Replacing as needed – energy-efficient options)
- Roofing: $4,000
IV. Additional Costs: $12,500
- Permits: $2,000 (For various aspects of the project)
- Contractor Fees: $3,500
- Unexpected Issues: $3,000
- Landscaping: $4,000 (Clearing, planting, basic landscaping)
Total Estimated Rehab Cost: $78,000