DC Area rehab estimates

[Brenden Giroux]

Hi All,

I am looking to invest in the dc area. Does anyone have any good rules of thumb for the dc area when estimating the cost of a rehab per sqft. when doing a first analysis? I know that worse shape the property is in, the higher cost per sqft. Any advice would be much appreciated.

Thanks,

Brenden

[Jack Seiden]

My rule is anything that is basically cosmetic post ww2 brick under 2k sf (rowhouse vs sf isnt a huge deal actually) is about 125-130k. Older rowhomes homes in more severe disrepair and/or anything over 3k sf is about 150-200k. Any combo of older home, severe disrepair or anything over 3k sf is easily 200k+ up to 300k in an extreme example and given the time and effort and risk of cost overun unless its some amazing spread of a life time i usually stay away from.