Invest | ParceLion | Real estate investment, property investment, home addition

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Investment Options


244494
Property Type:Single Family Home
Beds:3
Baths:1
Lot Size SqFt:6,251
Stories:1
Age:103
Zoning Code:R2
Max Stories Allowed:2.50
Max Living Area Allowed:3,438
Area Available For Additions:3,438

Purchase Price:
Asking Price:
$650,000
Cash Out-of-Pocket:
$229,880
Potential ROI due to Market Value Gain:
143%
Total Cost/Expenses:
$1,542,494
New Market Value Estimate:
$2,945,559
Set Default Potential Project Values
FAR (get Floor Area Ratio from your city planning department or use default)0.55
0.55
1st Loan (Mortgage):
$487,500
1st Loan Interest5%
5
1st Loan Downpayment25% / $162,500
25
2d Loan (Construction):
$859,493
2nd Loan Interest8%
8
2nd Loan Downpayment4% / $34,380
4
Projected Timeframe8 months
8
Market price per sqft:
$793
Price of Construction Per Square Foot (if quoted by your own contractor)$250
250
Square Footage to be built up3437 sqft
3437
Construction Cost (if quoted by your own contractor)$859,493
859493
Monthly Property Insurance$125
125
Property Tax (%)1.25%
1.25
Closing Costs per Transaction$3,000
3000
Commissions to Realtor:
$147,278
Realtor's Commissions per Transaction (%)5%
5

The Assumptions & Disclosure:
  • Parcelion ROI estimates depend on project costs, finish materials, loan(s) terms, market conditions, and do not include sales taxes, permit fees or hazardous material removal costs. The estimates should only be used for preliminary planning and should not substitute the firm quotes from qualified team of Professionals.
  • Provided sample project description, costs and value are courtesy of http://www.remodeling.hw.net/cost-vs-value/2021/
  • Completing projects may require consulting with local city or jurisdiction authorities
  • After-project property market values are calculated based on comparable properties
  • Zoning rules and regulations are collected from local cities and jurisdictions

Location

Property Details

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