Fix and Flip Calculator

How this calculator works

A flip makes money only after every cost: purchase and closing, rehab and contingency, holding costs month by month, financing, and selling costs. This calculator lays them out and shows how profit changes if the sale price drops, the rehab runs over or the project takes longer.

Switch financing to All cash to compare the deal without a loan.

Profit = sale price − selling costs − purchase and buying costs − rehab with contingency − holding costs − financing costs.
Return is measured on peak cash, the most you have invested at any time.
The what-if table reruns the whole deal for each change.

Worked example

Example values are illustrative, not quotes or market data. These are the numbers the calculator above starts with.

Inputs

Purchase price: $200,000
Buying closing costs: $4,000
Rehab budget: $60,000
Contingency on rehab: 10%
After-repair value (ARV): $360,000
Selling costs (% of sale): 6%
Months of rehab: 4
Months from purchase to sale closing: 6
Holding costs per month (taxes, insurance, utilities): $600
Financing: Hard money loan
Max loan-to-cost (% of purchase + rehab): 90%
Max loan-to-ARV: 70%
Purchase advance (% of price): 90%
Rehab funded (% of budget): 100%
Interest rate: 12%
Points (% of loan): 2%
Lender fees ($): $1,000
Interest charged on: Only the funds drawn so far
Loan term (months): 12
Number of rehab draws: 4

Results

Profit: $45,080
Peak cash: $54,880
ROI on peak cash: 82.1%
Loan commitment: $234,000
Binding limit: Loan-to-cost limit (90% of purchase + rehab)
Interest: $12,540
Break-even sale: $312,043

Common questions

What is a good flip profit?

It depends on your risk, time and capital. Set a target before you buy and use the Maximum Allowable Offer calculator to back into a price.

Should I include a contingency?

Yes. Rehab budgets on older homes often run over. The example uses 10%.

How do selling costs affect profit?

They come off the top of the sale price. Enter your own assumption; brokerage compensation is negotiable.

Related calculators

Estimate only. Actual loan terms, eligibility, insurance, taxes, and settlement charges require verification. These are planning estimates, not a lender Loan Estimate, Closing Disclosure, appraisal, or approval. Michael O'Neal is a real estate broker, not a lender, appraiser, attorney or tax adviser.