15244 Sw 108th Court

Miami, FL 33157

$505,000

4 bd · 2 ba · 1,956 sq ft · Built 1974

ESTI estimate · moderate renovation

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Renovation: $44,445
After repair: $704,524
Profit: $152,049
ROI: 27.1%

Profit if you buy at the list price, renovate and sell at the after-repair value. Estimates, not appraisals.

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How ESTI estimates

Renovation cost

ESTI estimates two renovation scopes for every home. Moderate is a cosmetic refresh: demolition and prep, interior and exterior paint, flooring, countertops, plumbing and light fixtures, and clean-up. Full-scale adds cabinets, appliances, interior doors and trim, light framing and drywall repairs, and electrical and plumbing parts. Neither includes structural work or debris haul-off.

After-repair value (ARV)

ARV is what the home could sell for once it is renovated. ESTI looks for comparable homes nearby, similar in size, bedrooms, bathrooms and age, that sold or went under contract recently. It starts with the closest and most recent sales and widens the search only when there are too few.

Profit and ROI

Profit = ARV − purchase price − renovation − closing costs. Closing costs are 0.6% of the purchase price.

When ESTI does not estimate

ESTI shows "Can't estimate" instead of a profit when there aren't enough comparable sales to estimate the after-repair value, when the estimated ROI is above 35% (usually a sign of wrong listing data), or when the listing data looks wrong. Those homes are never Profit Picks and are left out of every market number.

Made by ESTI's algorithms from listing data and recent nearby sales. Not an appraisal or financial advice. Listing details can be incomplete or out of date. Verify before you invest. Disclaimer

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