8 Phases of the Flip Series: East Village House – Atlanta

December 16, 2014

We hope you’re enjoying our on-going flip series, The 8 Phases of the Flip – Atlanta. This week, we’ve posted information for our third house located in Atlanta’s East Village. Be sure to check back to watch these transformations evolve!

East Atlanta Village Rebuild House

Atlanta, GA 30316

We are taking the opportunity to completely tear down and rebuild this home that was originally built in 1935.

Size:

3 bedroom

1 bathroom

1,151 square feet = Living Space

4,356 square feet = Lot Size

Location:

This diamond in the rough is located in the East Atlanta Village neighborhood. The East Atlanta neighborhood has been around since the late 1800’s and was voted as Atlanta’s Best Neighborhood for two consecutive years in 2007 and 2008. East Village is known as being a friendly, warm community and residents rave about the local Farmers Market. There’s a wide variety of food, entertainment, and coffeehouses that make East Village a peaceful and pleasant community to be a part of.

Numbers:

Purchase price = $108,000

Rehab/New Construction cost = $85.00/square foot

Upon completion, this house will be 2,150 total square feet = roughly $182,750 to $190,000

ARV = roughly $400,000 to $420,000

How I found the property:

We obtained this property from one of our real estate agents who constantly scours the MLS for houses. We have multiple agents locating deals for us.

Budget:

We plan on spending $85.00 per square foot which is a little on the higher side due to the premium upgrades that we plan on using.

Total budget = $182,750 to $190,000