Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago, 12/26/2020
Rehab Bids $70,000 or $120,000?
I am interested in some feedback. I am a long time landlord and have typically done most of the work on properties myself. I am currently thinking about purchasing and fully rehabbing a property, but it is a large enough project that I am getting bids from general contractors.
The property is currently gutted, and the plumbing and electrical have both been roughed in, and framing has been done, so the scope of work is pretty clear and does not really leave much room for decisions about what should be completed and what should not be completed.
The first bid came in at $67,000 and the second one came in at $119,000. Both are for rental grade finishes and both involve pulling all necessary permits with the city. I am not sure what to make of this. I will post both bids below, with names redacted.
| Repair Estimator | |||||||||||||||||||||||||
| Address: | 1000 Campbell Ave. Columbus, OH 43223 | Vacant: | YES | Date: | 12/15/2020 | ||||||||||||||||||||
| Bed: | 2 | Bath: | 1.5 | Sq Ft: | 896 | Inspected By: | |||||||||||||||||||
| * Additional Mediator/Engineer/Pro Quotes Needed: | |||||||||||||||||||||||||
| EXTERIOR | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | Notes | ||||||||||||||||||
| Roof * | Roof (rip and replace) - Dimensional shingle | 896 | sf | $3.00 | $2,688 | ||||||||||||||||||||
| Possible additional Inspections, Quotes or Mediation needed | Layover (add a layer of shingles) - architectural shingle | sf | $2.50 | $0 | |||||||||||||||||||||
| Roof repair/patch (hard) | ea | $1,000.00 | $0 | ||||||||||||||||||||||
| Roof repair/patch (easy) | ea | $500.00 | $0 | ||||||||||||||||||||||
| Fascia - demo & install new | lf | $3.00 | $0 | ||||||||||||||||||||||
| Soffit - demo & install new | 50 | lf | $4.00 | $200 | |||||||||||||||||||||
| Gutters | Gutters & downspouts - demo & install new (Flat Cost) | ea | $1,500.00 | $0 | |||||||||||||||||||||
| Gutters & downspouts - demo & install new (Flat Cost) | lf | $6.00 | $0 | ||||||||||||||||||||||
| Gutters - Repair, clean & paint existing | 1 | ea | $350.00 | $350 | |||||||||||||||||||||
| Finish / Siding | Demo existing finishing material | sf | $0.75 | $0 | |||||||||||||||||||||
| Stucco | sf | $7.00 | $0 | ||||||||||||||||||||||
| Wood siding | sf | $6.00 | $0 | ||||||||||||||||||||||
| Vinyl siding | 896 | sf | $3.50 | $3,136 | |||||||||||||||||||||
| Fiber cement siding (Hardi board siding) | sf | $7.00 | $0 | ||||||||||||||||||||||
| Install New Shutters | ea | $150.00 | |||||||||||||||||||||||
| Patch an exterior section (MINOR SIDING REPAIR) | ls | $500.00 | $0 | ||||||||||||||||||||||
| Patch an exterior section (MAJOR SIDING REPAIR) | sf | $1.75 | $0 | ||||||||||||||||||||||
| Power wash exterior | 1 | ea | $400.00 | $400 | Power wash entire exterior, including gutters & front porch. | ||||||||||||||||||||
| Masonry | Fireplace/chimney, brick/stone - replace existing | ls | $5,000.00 | $0 | |||||||||||||||||||||
| Concrete block | sf | $6.00 | $0 | ||||||||||||||||||||||
| Stone | sf | $18.00 | $0 | ||||||||||||||||||||||
| Brick | sf | $11.50 | $0 | ||||||||||||||||||||||
| Tuckpoint brick chimney | ea | $300.00 | $0 | ||||||||||||||||||||||
| Painting | Painting exterior only | sf | $1.75 | $0 | |||||||||||||||||||||
| Paint trim only | 896 | sf | $0.50 | $448 | |||||||||||||||||||||
| Sand & refinish deck or paint deck | sf | $1.75 | $0 | ||||||||||||||||||||||
| Paint fence | sf | $1.00 | $0 | ||||||||||||||||||||||
| Paint detached garage | sf | $1.00 | $0 | ||||||||||||||||||||||
| Windows | Windows, vinyl, average size | 3 | ea | $300.00 | $900 | ||||||||||||||||||||
| Basement Glass Block Windows | ea | $250.00 | $0 | ||||||||||||||||||||||
| Window Repair/Replace Glass | ea | $150.00 | $0 | ||||||||||||||||||||||
| Window Screens | ea | $75.00 | $0 | ||||||||||||||||||||||
| Exterior Doors | Exterior front door - single door w/ hardware & dead bolt | 1 | ea | $500.00 | $500 | ||||||||||||||||||||
| Exterior door (std.) - single door w/ hardware & dead bolt | ea | $400.00 | $0 | ||||||||||||||||||||||
| Exterior Storm Door | ea | $200.00 | $0 | ||||||||||||||||||||||
| Exterior sliding glass door - double door | ea | $650.00 | $0 | ||||||||||||||||||||||
| Exterior door hardware & dead bolt | 1 | ea | $50.00 | $50 | |||||||||||||||||||||
| EXTERIOR (cont.) | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | |||||||||||||||||||
| Garage | Garage Door Only - 1 Car - 9'x7' door, manual | ea | $775.00 | $0 | |||||||||||||||||||||
| Garage Door Only - 2 Car - 16' door, manual | ea | $1,200.00 | $0 | ||||||||||||||||||||||
| Garage Door Opener Installed | ea | $300.00 | $0 | ||||||||||||||||||||||
| Reroof detached garage (rip & replace) | sf | $4.00 | $0 | ||||||||||||||||||||||
| Build new detached garage - 1-CAR | ea | $14,000.00 | $0 | ||||||||||||||||||||||
| Build new detached garage - 2-CAR | ea | $16,000.00 | $0 | ||||||||||||||||||||||
| Landscaping | Full landscaping makeover large lot | ls | $5,000.00 | $0 | |||||||||||||||||||||
| Full landscaping makeover medium lot | ls | $3,000.00 | $0 | ||||||||||||||||||||||
| Full landscaping makeover small lot | 1 | ls | $2,000.00 | $2,000 | A lot of backfill topsoil needed around the entire foundation/property. Install mulch beds along front porch. | ||||||||||||||||||||
| Tree removal (per tree) | ea | $500.00 | $0 | ||||||||||||||||||||||
| Tree Planting (per tree) | ea | $130.00 | $0 | ||||||||||||||||||||||
| Concrete/Asphalt | Demo existing concrete or asphalt | sf | $2.00 | $0 | |||||||||||||||||||||
| Concrete installed for driveway/patio/sidewalk | sf | $10.00 | $0 | ||||||||||||||||||||||
| Stairwell Repair / Concrete Flatwork | sf | $8.00 | $0 | ||||||||||||||||||||||
| Concrete leveling for patio/sidewalk | ea | $500.00 | $0 | ||||||||||||||||||||||
| Asphalt installed in driveway | sf | $10.50 | $0 | ||||||||||||||||||||||
| Asphalt - Minor Repair (Cold patch small area and 2 seal coats | ls | $500.00 | $0 | ||||||||||||||||||||||
| Gravel installed for driveway/sidewalk | 300 | sf | $2.00 | $600 | New parking pad out back. | ||||||||||||||||||||
| Decks & Porches | New deck 15'x15' (add permit if 30" off ground) | ea | $5,000.00 | $0 | |||||||||||||||||||||
| New deck 10'x10' | ea | $2,500.00 | $0 | ||||||||||||||||||||||
| Sand & refinish deck only | sf | $2.00 | $0 | ||||||||||||||||||||||
| New Porch | ea | $3,500.00 | $0 | ||||||||||||||||||||||
| Repair Porch (minor repairs) | ea | $250.00 | $0 | ||||||||||||||||||||||
| Repair Porch (major repairs) | ea | $1,500.00 | $0 | ||||||||||||||||||||||
| Porch Repair - Flooring | sf | $2.50 | $0 | ||||||||||||||||||||||
| New railings - wood | lf | $30.00 | $0 | ||||||||||||||||||||||
| New railings - metal | lf | $40.00 | $0 | ||||||||||||||||||||||
| Fence | Wood fencing | lf | $15.00 | $0 | |||||||||||||||||||||
| Wrought iron fencing | lf | $45.00 | $0 | ||||||||||||||||||||||
| Chain-link fence | lf | $8.00 | $0 | ||||||||||||||||||||||
| Septic * | Septic (all new system) | ea | $15,000.00 | $0 | |||||||||||||||||||||
| Possible additional Inspections, Quotes or Mediation needed | Septic (new tank only) | ea | $5,500.00 | $0 | |||||||||||||||||||||
| Septic (replace leach field only) | ea | $3,000.00 | $0 | ||||||||||||||||||||||
| Camera & Snake Sewer Line | 1 | ea | $350.00 | $350 | |||||||||||||||||||||
| Exterior Notes | |||||||||||||||||||||||||
| INTERIOR | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | |||||||||||||||||||
| Painting | Interior painting only | 896 | sf | $2.00 | $1,792 | ||||||||||||||||||||
| Add extra wall prep (damaged walls) | sf | $0.50 | $0 | ||||||||||||||||||||||
| Additional Priming needed (Smoke damaged walls) | ls | $500.00 | |||||||||||||||||||||||
| Hardwood | Hardwood flooring - solid wood | sf | $7.00 | $0 | |||||||||||||||||||||
| Engineered or bamboo hardwood flooring | sf | $5.00 | $0 | ||||||||||||||||||||||
| Laminate Wood flooring | sf | $3.75 | $0 | ||||||||||||||||||||||
| Subfloor put in (3/4" plywood) | sf | $1.50 | $0 | ||||||||||||||||||||||
| Install wood underlayment (1/4" wood under LVP) | sf | $1.00 | $0 | ||||||||||||||||||||||
| Sand & refinish existing hardwood flooring | sf | $2.50 | $0 | ||||||||||||||||||||||
| Carpet / Vinyl | Carpet | 350 | sf | $1.40 | $490 | ||||||||||||||||||||
| LVP Vinyl Flooring | 550 | sf | $3.00 | $1,650 | |||||||||||||||||||||
| Sheet Vinyl Roll Flooring | sf | $1.75 | $0 | ||||||||||||||||||||||
| Tiling | Ceramic floor tile - in kitchen | sf | $9.00 | $0 | |||||||||||||||||||||
| Backsplash wall tile - in kitchen (20-40sf usually) | sf | $16.00 | $0 | ||||||||||||||||||||||
| Ceramic floor tile - in bathrooms | 40 | sf | $9.00 | $360 | Upstairs bathroom. | ||||||||||||||||||||
| Shower wall tile - in bathrooms (80 sf usually) | sf | $9.00 | $0 | ||||||||||||||||||||||
| Ceramic floor tile - other areas of house | sf | $9.00 | $0 | ||||||||||||||||||||||
| Kitchen - (Grouped) | High end kitchen (ARV $250,000 and up) | ea | $8,500.00 | $0 | |||||||||||||||||||||
| Includes: cabinets, counter-tops, backsplash, plumbing & electrical work & fixtures in kitchen only. Excludes: appliances, flooring, paint. | Median kitchen (ARV $120,000 to $250,000) | ea | $6,500.00 | $0 | |||||||||||||||||||||
| Low end kitchen (ARV $50,000 to $120,000) | 1 | ea | $4,500.00 | $4,500 | |||||||||||||||||||||
| Rental Property Kitchen | ea | $2,500.00 | $0 | ||||||||||||||||||||||
| Appliances - (Grouped) | |||||||||||||||||||||||||
| Includes: Refrigerator, range, range hood, dishwasher, microwave | High end home appliances | ea | $5,500.00 | $0 | |||||||||||||||||||||
| Median price home appliances | 1 | ea | $2,500.00 | $2,500 | |||||||||||||||||||||
| Rental Property appliances | ea | $1,200.00 | $0 | ||||||||||||||||||||||
| Kitchen - (By Item) | Cabinets - Rental Property | ea | $500.00 | $0 | |||||||||||||||||||||
| Cabinets - Rehab Property (ARV $200k +) | ea | $5,000.00 | $0 | #1414607 | 1 | ||||||||||||||||||||
| Install Cabinet Hardware | ea | $6.00 | $0 | #875299 | 15 | ||||||||||||||||||||
| Countertops - Granite | ea | $2,000.00 | $0 | ||||||||||||||||||||||
| Countertops - Laminate | ea | $450.00 | $0 | ||||||||||||||||||||||
| Sink | 1 | ea | $150.00 | $150 | |||||||||||||||||||||
| Sink Faucet | 1 | ea | $150.00 | $150 | |||||||||||||||||||||
| Garbage Disposal | 1 | ea | $175.00 | $175 | |||||||||||||||||||||
| Bathroom - (Grouped) | Full bath - replace everything | 1 | ea | $3,000.00 | $3,000 | ||||||||||||||||||||
| Includes: vanity, counter-top, mirror, sink, faucet, tub, surround, shower-head & faucet kit, towel bar kit, fan, lighting kit, basic plumbing & electrical work. Excludes flooring & paint | Half bath - replace everything | 1 | ea | $1,500.00 | $1,500 | ||||||||||||||||||||
| Grout - Dark grey throughout | ea | $25.60 | $0 | #593245 | 4? | ||||||||||||||||||||
| Bathroom - (By Item) | Yes | Vanity (average size) | ea | $250.00 | $0 | #900414 | 1 | ||||||||||||||||||
| Vanity countertop/sink - granite or other hard surface | ea | $350.00 | $0 | ||||||||||||||||||||||
| Vanity mirror | ea | $100.00 | $0 | ||||||||||||||||||||||
| Sink Faucet | ea | $75.00 | $0 | ||||||||||||||||||||||
| Toilet | ea | $200.00 | $0 | ||||||||||||||||||||||
| Bathtub - fiberglass | ea | $450.00 | $0 | ||||||||||||||||||||||
| Bathtub & shower surround - fiberglass | ea | $750.00 | $0 | ||||||||||||||||||||||
| Shower stall & surround - fiberglass | ea | $500.00 | $0 | ||||||||||||||||||||||
| Showerhead & faucet kit (w/ new diverter valve) | ea | $250.00 | $0 | #1314215 | 2 | ||||||||||||||||||||
| Bathroom towel bar kit & TP Holder | ea | $100.00 | $0 | #429368 | 1 | ||||||||||||||||||||
| Frameless Glass Shower Doors | ea | $1,000.00 | $0 | ||||||||||||||||||||||
| INTERIOR (cont.) | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | |||||||||||||||||||
| Framing | New construction framing- (includes walls, floors & roof) | sf | $30.00 | $0 | |||||||||||||||||||||
| Interior framing changes (non load barring) | lf | $15.00 | $0 | ||||||||||||||||||||||
| Open load bearing/structural wall - 5' Opening | ea | $500.00 | $0 | ||||||||||||||||||||||
| Open load bearing/structural wall - Entire Wall | ea | $1,500.00 | $0 | ||||||||||||||||||||||
| Insulation | Wall insulation | 896 | sf | $1.50 | $1,344 | ||||||||||||||||||||
| Attic insulation, blown-in | 500 | sf | $0.80 | $400 | |||||||||||||||||||||
| Walls | Drywall, tape & skimcoat walls/ceilings in gutted house (or factor approximately $34 per sheet of drywall material + labor) | 896 | sf | $5.00 | $4,480 | ||||||||||||||||||||
| Drywall, tape, & skimcoat a wall (1/2" thick) | sf | $2.50 | $0 | ||||||||||||||||||||||
| Drywall, tape, & skimcoat a ceiling (1/2" thick) | sf | $4.00 | $0 | ||||||||||||||||||||||
| Patchwork section of a wall - (drywall, tape, & finish) | sf | $1.50 | $0 | ||||||||||||||||||||||
| Expose Brick Fireplace. Patch & seal brick | ea | $600.00 | $0 | ||||||||||||||||||||||
| Interior Doors & Trim | New interior doors, closet doors, hardware, base trim & casing (average size home) | 1 | ea | $4,500.00 | $4,500 | ||||||||||||||||||||
| Interior door - prehung hollow-core door | ea | $150.00 | $0 | ||||||||||||||||||||||
| Interior door hardware | ea | $40.00 | $0 | ||||||||||||||||||||||
| Interior sliding closet door | ea | $175.00 | $0 | ||||||||||||||||||||||
| Crown molding | lf | $3.75 | $0 | ||||||||||||||||||||||
| New baseboard trim only (average size home) | ea | $2,000.00 | $0 | ||||||||||||||||||||||
| Basement | Pour concrete floor in basement | 25 | sy | $175.00 | $4,375 | ||||||||||||||||||||
| Seal basement (paint walls and floor) | 1 | ea | $750.00 | $750 | Paint walls white, floor gray, KILLZ ceiling & then paint ceiling black. | ||||||||||||||||||||
| Install sump system INCLUDING digging pit & drainage | ea | $7,500.00 | $0 | ||||||||||||||||||||||
| Install sump pump (installing new pump only) | 1 | ea | $250.00 | $250 | |||||||||||||||||||||
| Level/Raise Floors (4 posts, concrete work included) | ea | $1,000.00 | $0 | ||||||||||||||||||||||
| Reframe support beam | ea | $500.00 | $0 | ||||||||||||||||||||||
| Replace stairs | ea | $1,000.00 | $0 | ||||||||||||||||||||||
| Foundation * | Repair existing foundation - bowing walls support with I beams | ea | $400.00 | $0 | |||||||||||||||||||||
| Possible additional Inspections, Quotes or Mediation needed | $0 | ||||||||||||||||||||||||
| $0 | |||||||||||||||||||||||||
| Interior Notes | |||||||||||||||||||||||||
| MECHANICALS | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | |||||||||||||||||||
| HVAC | Gas furnace, ac system, & ductwork for entire house | 1 | ea | $7,500.00 | $7,500 | Smaller house. | |||||||||||||||||||
| Gas furnace & ductwork (no AC) | ea | $4,000.00 | $0 | ||||||||||||||||||||||
| Gas furnace only | ea | $2,000.00 | $0 | ||||||||||||||||||||||
| Air conditioning unit only | ea | $2,000.00 | $0 | ||||||||||||||||||||||
| Replace ductwork only | ea | $2,300.00 | $0 | ||||||||||||||||||||||
| Replace boiler & hot water baseboard system | ea | $6,500.00 | $0 | ||||||||||||||||||||||
| Replace boiler unit only | ea | $3,000.00 | $0 | ||||||||||||||||||||||
| Service heating & cooling system only | ea | $250.00 | $0 | ||||||||||||||||||||||
| Plumbing | New plumbing system in entire house | 0.25 | ea | $9,000.00 | $2,250 | Some plumbing already ran. | |||||||||||||||||||
| Replace gas hot water heater - 40 gallon | 1 | ea | $750.00 | $750 | |||||||||||||||||||||
| MISCELLANEOUS PLUMBING REPAIRS | 2 | ea | $500.00 | $1,000 | |||||||||||||||||||||
| Electrical | Rewire entire house, new panel, & lighting fixtures (1,500 sqft) | 0.5 | ea | $7,500.00 | $3,750 | ||||||||||||||||||||
| Basic electrical work for house & lighting fixtures (1500 sq. ft) | ea | $1,500.00 | $0 | ||||||||||||||||||||||
| Replace electrical panel only | ea | $900.00 | $0 | ||||||||||||||||||||||
| Upgrade Service to 200a and install new panel | ea | $1,500.00 | $0 | ||||||||||||||||||||||
| Change out outlets & cover plates on all outlets and switches | ea | $200.00 | $0 | ||||||||||||||||||||||
| Wire NEW outlet, switch, or can light | ea | $100.00 | $0 | #760192 | 1 | ||||||||||||||||||||
| Replace all lighting fixtures only (1500 sq. ft. house) | ea | $500.00 | $0 | #1133113 | 1 | ||||||||||||||||||||
| MISCELLANEOUS ELECTRICAL REPAIRS | 1 | ea | $500.00 | $500 | just in case | ||||||||||||||||||||
| OTHER | |||||||||||||||||||||||||
| Category | Y/N | Repair Type | # | Unit | Cost | Total | |||||||||||||||||||
| Clean Out | Interior Junk Removal (L&M cost to fill one 40 yd dumpster) | ea | $500.00 | $0 | |||||||||||||||||||||
| Exterior Landscaping Clean Out - Overgrown Lawn | ls | $500.00 | $0 | ||||||||||||||||||||||
| Demo & Dumpsters | DEMO HOUSE DOWN TO STUDS (includes dumpsters) | ea | $5,000.00 | $0 | |||||||||||||||||||||
| Dumpster rental (20 yard) | 3 | ea | $250.00 | $750 | |||||||||||||||||||||
| Termites/Abatement * | Termite fumigation & treatment | ls | $1,000.00 | $0 | |||||||||||||||||||||
| Possible additional Inspections, Quotes or Mediation needed | Mold removal & abatement - minimum | ls | $1,000.00 | $0 | |||||||||||||||||||||
| Asbestos removal & abatement - minimum | ls | $1,500.00 | $0 | ||||||||||||||||||||||
| Permits * | Construction permits - Building | 3 | ea | $250.00 | $750 | ||||||||||||||||||||
| Construction permits - Additional Inspections | ea | $150.00 | $0 | ||||||||||||||||||||||
| Zoning Permit | ea | $475.00 | $0 | ||||||||||||||||||||||
| Engineering / Architect Fee | ea | $1,500.00 | $0 | ||||||||||||||||||||||
| Cleaning | Deep cleaning after project is complete | 1 | ea | $300.00 | $300 | ||||||||||||||||||||
| Extra | Update Fireplace | ea | $1,500.00 | $0 | |||||||||||||||||||||
| Note: add anything that is not currently on the sheet | EVICTION | ea | $1,000.00 | $0 | |||||||||||||||||||||
| Termite / Pest Inspection | ea | $100.00 | $0 | ||||||||||||||||||||||
| $0 | |||||||||||||||||||||||||
| Repairs Subtotal | $61,138 | ||||||||||||||||||||||||
| Contingency | Misc Contingency Cost (10-20% depending on unknowns) | 10 | % | $61,138.00 | $6,114 | ||||||||||||||||||||
| Total Repairs | $67,252 | ||||||||||||||||||||||||
| COST ESTIMATES | |||||||||||||||||||||||||
| Exterior Repairs | $11,222 | Mechanical Repairs | $15,750 | ||||||||||||||||||||||
| Interior Repairs | $32,366 | Other Repairs | $7,914 | ||||||||||||||||||||||
| Total Repairs | $67,252 | After Repair Value | $0 | ||||||||||||||||||||||