Rehab Estimate opinions

[Trevor S Foster]

Hey BP,

I went to see a potential flip here in Maryland. I wondered what the response on BP would be for an initial rehab estimate.

So if any experienced rehabbers wouldn't mind giving their estimates on how much a full rehab of this bathroom would cost. 

Being as though it's a small bath room I think it would be under $1,200 to renovate this entire bathroom. 

What do you all think?

New bath tub/tile

New Flooring

New Paint/Trim

New Vanity/Fixtures

New Sink/Toliet

[Brian Pulaski]

@Trevor S Foster, is this a first flip? Who would be doing the work? What quality are you looking for?

If I were looking at a bathroom like this I would probably run my numbers as follows:

- New bathtub $250.

- Additional subfloor (wood) and cement board (floor) $100

- Shower cement board $75

- Waterproofing Membrane (I like to do this) $150

- Shower wall tile (80-90 SF) $150

- Flooring tile (30-40 SF) $100

- Tile setting and grout $75

- Vanity with top and mirror (24" it looks) $250

- Toilet, wax ring and feed line $100

- Faucet, feed lines and trap $75

- Trim $25

- Accessories $40

- Fan/light $150

- Vanity Light $50

- *Shower diverter valve with trim kit and plumber to install and help set tub/drain. $750

- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50

- Paint $40

- Miscellaneous $100

TOTAL: $2530

With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item. However when renovating a full flip, things like paint, subflooring, caulk and screws, etc are usually absorbed in my other areas, and don't get factored in for the bathroom alone. I also assume things such as the $750 cost for diverter install and plumber labor. This is most likely higher than it will cost, as a good plumber will be in and out with that in less than a day, and his parts and material wouldn't be terribly expensive. I would rather crunch numbers thinking $750, and write a check for $500, than the other way around! Lastly, if I crunch my numbers above and it tells me my offer on the house wont land it, I like to revisit them, and see what/where I am missing costs (too high or too low). I can say on all of the smaller bathrooms I have redone, I have probably only spent that kind of money on one or two. I almost always am able to come in under budget on different pieces and parts.