Calculator · Flip and wholesale

Fix and flip calculator

Enter the purchase, loan, rehab, holding time and sale to see net profit, margin, ROI and the lowest sale price that breaks even. Results update as you type.

Purchase

Purchase price

Buying closing costsPercent of price.

Financing

Financing typeConventional and hard money both use the loan terms below; enter your lender's terms. All cash ignores them.

Loan as % of purchase price

Loan as % of rehab budget (draws)

Interest ratePer year.

PointsPercent of loan.

Other lender fees

Interest-only?

Amortization (if not interest-only)Years.

Share of rehab loan outstanding on averageRehab money is drawn over time, so interest is on part of it.

Holding

Months heldWhole months.

Property taxes per month

Insurance per month

Utilities per month

HOA / other per month

Rehab

Rehab budgetTotal of all repair line items.

ContingencyPercent of rehab.

Sale

ARV / sale priceAfter-repair value.

Agent commissionPercent of sale price.

Seller closing costsPercent of sale price.

Concessions to buyer

70% rule percent of ARV

Results

Updates as you type. The formulas are under "How this is calculated" below.

Net profit
Profit margin
Cash-on-cash ROI
Annualized ROI
Break-even sale price
70% rule check

Project cost

Buying closing costs
Rehab with contingency
Total loan
Points
Other lender fees
Loan interest over the hold
Taxes, insurance, utilities, HOA over the hold
Holding costs incl. interest
Total project cost

Sale and returns

Net sale proceeds
Cash invested
Simple ROI on total cost
Profit per month held
ARV above break-even

70% rule

Max allowable offer
Max offer minus your price

How to use this calculator

Enter the purchase price and your closing costs. Pick how you will pay: hard money, conventional or cash.
If you borrow, enter the loan as a share of price and of rehab, the rate, points and fees. Choose interest-only or amortizing.
Enter how many months you expect to hold, and the monthly taxes, insurance, utilities and HOA.
Enter the rehab budget and a contingency. A contingency of 10% or more is common because repairs often cost more than planned.
Enter the after-repair value and your selling costs. Read net profit, margin and the break-even sale price.
Change the months held or the ARV to see how fragile the profit is.

Worked example

The page opens on a $209,000 purchase with a hard-money loan (85% of price and 100% of rehab at 11%, 2 points, interest-only), a $50,000 rehab with 10% contingency, a 6-month hold, and a $385,000 sale with 5% commission, 1.5% seller closing and $2,000 in concessions.

Rehab with contingency: $55,000. Total loan: $232,650.
Loan interest over the hold: $11,283. All holding costs, including interest: $16,233.
Total project cost (purchase, closing, rehab, loan costs and holding): $290,566.
Net sale proceeds: $357,975. Net profit: $67,409, a margin of 17.5%.
Cash invested: $57,916. Cash-on-cash ROI: 116.4%, or 368.2% annualized.
Break-even sale price: $312,905. The 70% rule gives a max offer of $214,500, so the price is $5,500 under it.

How this is calculated

Rehab with contingency = rehab budget x (1 + contingency %). Closing = price x closing %.
Loan = price x loan % of price + rehab with contingency x loan % of rehab. Points = loan x points %.
Interest-only interest = (price loan + rehab loan x share outstanding) x rate / 12 x months. If amortizing, interest is the sum of the first N months of interest on that balance.
Holding costs = interest + (taxes + insurance + utilities + HOA) x months.
Total cost = price + closing + rehab with contingency + points + lender fees + holding costs.
Net proceeds = sale price - commission - seller closing - concessions. Profit = net proceeds - total cost. Margin = profit / sale price.
Cash invested = total cost - loan. Cash-on-cash = profit / cash invested. Annualized = (1 + cash-on-cash)^(12 / months) - 1.
Break-even sale price = (total cost + concessions) / (1 - commission % - seller closing %).
Max allowable offer = rule % x ARV - rehab with contingency.

Before income tax. This page uses one set of loan terms and one rehab number; the spreadsheet version has line-item rehab, separate loan columns and a sensitivity grid.

Frequently asked questions

What is a good profit on a fix and flip?

There is no single number. Many flippers look for a profit large enough to cover surprises, often a margin of at least 10% to 15% of the sale price, but it depends on the market, the risk and how long the project runs.

What is the 70% rule?

It is a rule of thumb: pay no more than 70% of the after-repair value minus the repair costs. It is a quick filter, not a guarantee, and it may be too strict or too loose depending on the market.

How long should I plan to hold a flip?

It varies with the scope of work, permits, contractor availability and the local market. Many projects run longer than planned, so test a few extra months. Holding costs and interest are charged every month.

What costs do beginners forget?

Common misses are holding costs such as utilities and taxes, loan points and fees, seller closing costs, concessions to the buyer, and a contingency for repairs that cost more than planned.

How do I estimate the ARV?

Look at recently sold, similar homes nearby, ideally within the last few months, and adjust for size and condition. An agent or appraiser can help. Treat the ARV as an estimate and test a lower number.