Hagerstown MD Flip Prospect

[Brandon Allenczy]

Good morning everyone. Just trying to learn about my new market and train my eye for good deals. If any of you are in the Hagerstown/Frederick/Western Maryland market can you take a look at it and let me know what you think?

Just FYI this property is NASTY. It would need to be gutted and redone. 1 bed/1 bath, 672 Sq ft off of Georgia Ave in Hagerstown, MD

Purchase Price: $25K

Rehab: $40K

ARV: $80k

Net Profit: $9,400

(Sale Price - Transaction costs (7%) - Initial Purchase - Rehab)

ROI: ~15%

Thanks everyone!

[Benjamin Seibert]

@Brandon Allenczy Georgia Ave is a hit or miss street. This area has slowly been getting turned by investors (I just rehabbed a duplex just down the street) but still has its fair share of issues. A 1 BR 1 BA is always less attractive to buyers and the square footage makes it tough as well. I personally don't like the price and rehab amount for this one. Wouldn't rent more than $900 probably either if you had to rent - which technically meets 1% rule but you'd have city & county taxes and maintenance which would hurt cash flow. I'd want to get the property cheaper for a $40K rehab and $80K ARV