Calculating Turn Costs Question in Indiana

[Jason A.]

Hello everyone,

I just started investing out of state and was wondering if this calculation sounds about right. I had a PM company do a cost analysis on a turn for a duplex that I just bought. Estimated cost is $4,000 for a single 650 sq. ft. unit. Here is a breakdown of the items they saw that needs attention.

Needs minor trash removal; needs mown

Support post trim needs replaced; badly deteriorated; upper trim needs scraped and painted

Broken panes on side back needs replaced

Replace fixture on front porch; flood lights on back

Needs some minor trash removed and minor work done

220 wiring needs secured;not up to code, needs to be placed inside conduit.

Install new furnace filter

Clean and paint register vents

Install apprx. 4 door stops

Full interior rent ready cleaning required after all work complete

Replace as needed to match all light bulbs

Steam clean all carpet; sweep and mop vinyl

Replace missing storm door, paint interior door

Paint all walls

Paint door; interior shows signs of previous leak, but doesn’t appear to be a current problem; paint interior

Seal gaps in side window; paint all; seals appear damaged on double pane windows; may not be an issue

Replace screens

Install two smoke detectors

Install two blinds

Touch up, as needed

Paint all window seals

Seals appear bad; paint

Install screen

Very old and drawers fall out; should be replaced with new; secure handles, if kept

Has several large chips; functional sink otherwise

Install two strainers

Install fire extinguisher

Paint side exit door

Estimated cost is $4,000. 

Rents bring about $550/month for the area.

What do you guys think? Is this about what you spend on a turn? Any feedback is appreciated.

Kindest Regards,