Fix and Flip Homes for Sale in Covington, GA
28 fixer-uppers and as-is homes for sale in Covington, GA, each with an estimated after-repair value from renovated homes that sold nearby, a rehab budget and the profit left after every cost.
- 1Value from real salesThe after-repair value comes from renovated homes that sold within a few miles, not from asking prices.
- 2Every cost countedRehab, buying, 6 months of holding and selling costs come off before the profit.
- 33 homes pencil outUp to $38,195 estimated profit at a standard rehab. 1 passes the 70% rule. Best first.
Fix and flip homes near Covington
Fix and flip in Covington, GA: questions
How many fix-and-flip homes are for sale in Covington, GA?
28 homes for sale in Covington, GA are marked as a fixer or sold as-is. 3 of them show an estimated profit at a standard rehab. The list updates as listings change.
Which fix-and-flip home in Covington, GA has the biggest estimated profit?
A home listed at $49,990 in Covington, with an estimated after-repair value of $162,417 and about $38,195 of profit after a $54,000 rehab and all costs. Confirm the comps and the repairs before you offer.
What is a fix-and-flip home?
A home that needs work, bought below what it will be worth once repaired, renovated and resold. Every home here is either marked “Fixer” by the listing agent in the MLS or described as sold as-is, needing work, TLC or an investor special.
How is the after-repair value (ARV) estimated?
From renovated homes that actually sold, not asking prices. We take the median price per square foot of renovated homes that sold in the last 18 months within 1 mile (widening to 2, then 3 miles if needed), within 25% of the size and one bedroom of the home, and apply it to the home’s square footage. With fewer than 3 such sales we don’t estimate one.
What costs are in the estimated profit?
The purchase price, a rehab budget (light $25, standard $45 or heavy $70 per square foot, which you choose in the filters), 2% buying costs, 6 months of holding costs at 1% a month of price plus rehab (loan interest, taxes, insurance, utilities), and 8% of the ARV to sell. Open any home to change every number.
What is the 70% rule?
A quick screen many investors use: pay no more than 70% of the after-repair value, minus the rehab. On a $300,000 ARV with $50,000 of work, that is $160,000. Homes listed at or under that number are marked “Passes the 70% rule”.
Can a Veribas agent help an investor?
Yes. A Veribas agent can walk the home with you or your contractor, pull the renovated sales behind the ARV, and write a cash or financed offer, including as-is offers with a short inspection period. Our Lender Marketplace has lenders who quote purchase-and-rehab loans.
Investing? Work with a Veribas agent
Walk the home with your contractor, see the renovated sales behind the ARV, and get a cash or as-is offer in fast. Our Lender Marketplace has lenders who quote purchase-and-rehab loans.
