$695,000
9 Stonecrop Rd
Norwalk CT 06851
This pencils as a flip at the numbers below.
Deal math
Purchase → Rehab → After-repair valueTo walk away with about $145K, you'd offer around $632K: the conservative resale $970,000, minus ~9% selling & holding, minus $92K repairs, minus your $145K. It's a guide, not a rule: drag the target and watch the offer move, then pressure-test the winner in the financing card below. Our default target is a real margin: 15% of the conservative resale, at least $30K, which is what the board's badges use.
Every dollar saved raises the max you can pay — all figures update live.
Est. ARV $1,032,000 at high confidence: the home priced fully updated, from 6 recent closed sales within 1.5 mi (~3 mo old). Likely range $970,000 to $1,093,000: real sold prices; folds in ~9% resale & holding + 2% acquisition. Rehab is the cost to reach that fully-updated standard: work visible in the listing photos plus a standard interior update; mechanicals are shown separately and not included. Assumes a cash purchase — a hard-money loan adds ~3 to 5%. Verify scope and comps before offering.
Comps behind this ARV
top 3 of 6 · most similar first11 closed sales in this ring sat across a freeway and were not used: a limited-access highway is a market line, and this home is priced only against its own side of it.
Each sale also shows its value adjusted to this home's 2,444 sqft (“adj.”). The adjusted values, not the raw sold prices, are what the ARV is built from.
A typical home of this size sells for about $1,014,000 here. The $1,032,000 ARV is the renovated position in the same comp set, which is what the $92,126 of work above is priced to buy. Do less work than that and price nearer the typical.
Where the sale price goes
The whole path from the est. resale down to the dollars you keep, every line shown.
- Sale price (est. ARV)$1,032,000
- Purchase−$695,000
- Rehab−$92,126
- Gross spread$244,874
- Buy-side closing (~2%) + points (2.5)−$28,669
- Interest on the $590,750 loan (12.0% × 6 mo)−$35,445
- Taxes & insurance while you hold (6 mo)−$5,070
- Utilities, staging and upkeep (6 mo)−$15,570
- Selling costs (~7%: commissions + seller closing)−$72,240
- Net profit (yours)$87,880
The months slider is the full interest clock: purchase closing to resale closing, not just the construction weeks. A 2-month rehab is usually a 4-month clock once the home lists, sits, and the buyer's loan closes.
Experienced flippers sanity-check an offer with the 70% rule: 70% of the resale value, minus the rehab ($630,274 here, at your slider numbers). Use it as a gut check on the scenario above, not a price.
When flippers use 70% vs 80%
We picked 70% for this home (hard money at these terms eats several points of ARV over the hold, so keep the full cushion).
The percentage is not a market convention. The gap between the resale price and (your offer + rehab) has to cover everything the formula hides: closing costs both ways, agent commissions, holding costs, financing, and your profit. Pick the percentage by what those actually are on this deal.
Stay at 70% (or drop to 65%) when the resale is under ~$200k (fixed costs are a bigger share of a cheap house), when you are on hard money (10 to 13% plus points can eat 3 to 6% of ARV over a 6 month hold, this deal: $50,214 at your slider settings), when the rehab is heavy or the scope is uncertain, when comps are thin or the market is slow, or when your repair estimates are unproven. At 65% this home prices at $578,674.
75 to 80% is defensible when the resale is $400k+ (the smaller cushion is still a large dollar spread), the rehab is verified cosmetic only with a short hold, you are buying with cash or cheap private money, comps are strong and the market moves fast, or you are an agent and keep the listing commission (worth about 2.5 to 3 points of ARV by itself). In competitive metros, 80% with a tight budget is often how deals actually get won. At 75% this home prices at $681,874.
Estimates: 85% purchase financing, taxes estimated at 1.2%/yr, ~$150/mo vacant-home insurance, and utilities, staging and upkeep that bring the carrying costs (before interest) to at least 2% of the sale price per 6 months, the same allowance our profit estimate uses. Get a real hard-money quote before you offer.
Keep it: rent it and refinance (DSCR loan)
Instead of selling, rent the finished home and refinance into a DSCR loan, which the bank sizes on the home's value and rent, not your income.
We have no nearby rentals to price this home from. Enter the rent you expect, or check Rentometer.
The bank lends the rest: 75% of the after-repair value. It depends on the lender.
Starts at today's 7.18% 30-year rate. DSCR loans usually quote about 0.5 to 1.5 points above it: set it to your lender's quote.
Your expenses
Set each to what you expect to pay: the cash flow below follows. Fully rented holds nothing back; with reserves holds back our estimate for a home like this.
The lender counts these in the PITIA, so they move the DSCR and the cash flow.
Our estimate: 1.2% of the $695,000 asking price a year. The listing shows no taxes.
Our estimate: 0.4% of the $1,032,000 ARV a year, typical for CT. Get a quote.
The listing shows no HOA.
Your own budget: these move only the cash flow. The lender's DSCR uses the full rent and ignores them.
Anything else you pay as the owner: utilities, lawn, snow. Starts at $0.
| Equity left in | |||
|---|---|---|---|
| Loan | $877,200 | $825,600 | $774,000 |
| Cash left in | $20,996 | $71,048 | $121,100 |
| Payment (PITIA) | $6,949 | $6,601 | $6,254 |
| DSCR | n/a | n/a | n/a |
| Cash flow | n/a | n/a | n/a |
Payment and cash flow are monthly. Cash left in with "out" means the refinance hands back more than you spent.
Rent ÷ the full payment. Most DSCR lenders want 1.00 to 1.25 or better: set a rent above to see where this lands.
- Everything you spent (purchase + buy closing + rehab + loan points and interest + carrying)$871,880
- DSCR loan: 75% of the $1,032,000 ARV$774,000
- Refi closing costs (~3% of the loan)−$23,220
- Paid back to you at the refi$750,780
- Cash left in the deal$121,100
- Principal & interest (7.125%, 30 yr)$5,215
- Property taxes (est. 1.2%/yr)$695
- Insurance (est.)$344
- Mortgage payment (PITIA)$6,254/mo
Cash-out DSCR refinances usually cap at 75% of the value; 80 to 85% comes from fewer lenders, often at a higher rate. Most want you to own the home 3 to 6 months first (seasoning), and their appraisal, not our ARV, sets the loan. The lender's DSCR uses the full rent over the full payment (taxes, insurance and HOA included), so it ignores the vacancy, repairs, CapEx, management and other costs you hold back; the cash flow line takes them all out.
Wholesaler max allowable offer
What you can put a seller under contract at and still hand an end buyer a deal that pencils on the 70% rule.
- ARV (conservative)$970,000
- × 70%$679,000
- − Repairs (charged scope)−$92,126
- End buyer's max$587,000
- − Your assignment fee−$10,000
- Contract the seller at (MAO)$577,000
Estimate from the same ARV comps and repair scope as the flip math. Verify comps and walk the property before you write a contract.
Renovation scope · Moderate · $69,096 to $124,372 · 63% confidence
Brought to the standard the ARV is priced at.
A full system swap if the mechanicals are at end of life. Regional average. Confirm with an inspection. NOT included in the totals above.
Itemized from the listing photos. Only work visible in the photos is charged. Mechanicals are shown as an optional consideration and are not added to the total. Confirm with a contractor walk-through before offering.
What the photos show
- ReplaceBathrooms
- ReplaceFlooring
- RefreshExterior
- RefreshSite & landscaping
- RefreshKitchen
- RefreshWalls & ceilings
- RefreshInterior finishes
- RefreshWindows
Scope read from the listing photos by the same vision model the mobile app uses. An estimate to guide your own walkthrough, not a substitute for it.
Where it sits
9 Stonecrop Rd in context: the streets, water and amenities around it.
Monthly payment
- Principal and interest
- $3,767
- Home insurance (estimate)
- $232
- HOA
- $0
Estimate only. The rate starts at the national 30 year average (Freddie Mac). Taxes come from the county rate on the listing; insurance is a typical amount for the area, not a quote.
Information deemed reliable but not guaranteed. School ratings, flood data and tax records come from third parties. Status can lag the MLS by up to about 12 hours.
Comments
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