This property is a single family residence in the Sunnyside neighborhood of Denver. The neighborhood has a great collection of local eateries, growing demand, and a sense of big city feel, while also being a step away downtown.
Initial Project Analysis:
Purchase Price: $520,000
Estimated Renovation Cost: $80,000
Actual Renovation $105,000
Estimate After Repair Value: $750,000
Sale Price: $749,900
Value to Investors: $50,000
Remodel changes: Update the house, open the kitchen to the main living area, add a bath on the main floor, add AC, repair the garage, add egress window, and expose the natural beautiful hardwood floors.
Couple of surprises that increased the cost of the rehab. When removing walls around the kitchen, it turned out there were two supporting walls, not one. And toward the end of the project, a leak developed in the kitchen drain that was not identified in the original SOW.
