Investor Property Analysis

2740 21st Ave SW, Largo, FL 33774
Approx. 3 Bedrooms | 1 Bathroom | 1,080 Sq. Ft.

 Investment Strategy: Full renovation and resale.
 Estimated Renovation Budget: $80,000+
 Minimum Desired Profit: $50,000–$60,000
 Consideration to this is my fee  (flexible)

Estimated After Repair Value

Based on recent comparable sales in the surrounding Largo market, a reasonable working After Repair Value (ARV) for the property is approximately:

$350,000–$365,000

A resale price closer to $375,000 or above may be possible if the renovation is completed to a high retail standard and the property has a particularly strong layout, finishes, curb appeal, and updated major systems.

Conservative underwriting is important. The deal should not depend on achieving a $375,000–$380,000 resale price. A safer acquisition analysis should be based primarily on a $350,000–$365,000 ARV.

Basic Acquisition Math

Estimated ARV	Renovation	Profit Goal	Maximum Before Other Costs
$350,000	$80,000	$60,000	$210,000
$360,000	$80,000	$60,000	$220,000
$365,000	$80,000	$60,000	$225,000
$375,000	$80,000	$60,000	$235,000

These figures do not yet account for financing, holding costs, resale expenses, closing costs, taxes, insurance, utilities, commissions, buyer concessions, staging, cleanup, or unexpected repairs.

Realistic Investor Underwriting

For a flip of this size, a reasonable placeholder is approximately 8%–10% of the resale price for selling, holding, financing, and transaction-related expenses.

At a $360,000 resale price, using approximately 9% for additional costs:

$360,000 ARV
− $80,000 Renovation
− $32,400 Selling / Holding / Closing Costs
− $60,000 Required Profit

= $187,600 Maximum Allowable Offer

Based on this model, approximately $185,000–$190,000 becomes a much more realistic maximum acquisition range.

Recommended Purchase Range

Purchase Price	Investor Assessment
$170,000–$180,000	Very attractive. Provides room for renovation surprises, holding costs, and market fluctuations.
$180,000–$190,000	Good investment territory if a $355,000–$365,000 ARV is supported.
$190,000–$200,000	Deal becomes tighter. Rehab budget and resale price need to be carefully controlled.
$200,000–$210,000	Higher-risk range. A rehab overrun or lower resale price could substantially reduce profit.
$220,000+	Not attractive under the current $80,000 renovation and $50,000–$60,000 minimum profit requirements.

Example Flip Scenario

Purchase Price: $185,000
Resale Price: $360,000
Renovation: $80,000
Other Costs: Approximately $32,000

$360,000
− $185,000 Purchase
− $80,000 Renovation
− $32,000 Other Costs

= Approximately $63,000 Profit

This scenario lands near the desired $50,000–$60,000 minimum profit range while still providing some margin.

Suggested Offer Strategy

Based on the current assumptions, an investor could consider:

Opening offer: approximately $165,000–$175,000
Target acquisition: approximately $175,000–$185,000
Internal maximum allowable offer: approximately $185,000–$190,000

The actual MAO should ultimately depend on verified renovation costs, property condition, financing structure, holding period, and the most defensible ARV.

Potential 3-Bed / 2-Bath Conversion

One potentially important value-add opportunity would be determining whether the existing approximately 1,080-square-foot layout can reasonably accommodate a second bathroom.

A nearby 3-bedroom / 2-bath property at approximately 1,130 square feet sold for substantially more than many comparable 3-bedroom / 1-bath homes.

 If an additional bathroom can be created economically for approximately
 $10,000–$15,000 and the finished property can support an ARV closer to
 $385,000–$395,000, the additional investment may substantially improve
 the overall flip economics.

Current Working Numbers

Conservative ARV	$350,000
Likely Renovated ARV	$355,000–$365,000
Possible High-End ARV	$375,000+
Estimated Renovation	$80,000+
Required Profit	$50,000–$60,000 minimum
Preferred Purchase Range	$170,000–$185,000
Estimated Maximum Allowable Offer	$185,000–$190,000

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