Fix & Flip calculator

Look beyond the resale price.

Model your financing, cash requirements and break-even sale price, then see how delays or cost changes affect profit.

Explore Fix & Flip financing

Project planning

Work through your project economics.

Your project

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Change the example amounts to explore your deal.

01 Property & timeline

Purchase price ($)

Expected resale price / ARV ($)

Rehab budget ($)

Total holding period (months)From purchase to sale, including renovation.

Renovation period (months)From purchase until rehab is complete. Cannot exceed the total hold. Use 0 if all rehab funds are drawn at purchase.

02 Loan structure

How should we estimate loan interest?Interest charged on rehab drawn balanceRehab funds are drawn evenly during renovation. After renovation, the full rehab balance accrues interest until sale. The acquisition loan accrues interest throughout.Full loan charged interest from day one (full-boat)Interest on the entire acquisition and rehab loan throughout the holding period.

Purchase financed (%)

Base rehab financed (%)

Maximum loan-to-ARV (%)Caps the total modeled loan using the expected completed value. Actual limits depend on underwriting.

Annual interest rate (%)

Origination points (%)Applied to the modeled loan commitment after the ARV limit.

03 Acquisition, holding & sale costs

Acquisition closing costs ($)Exclude points already entered above.

Monthly holding costs ($)Taxes, insurance, utilities and other costs. Exclude loan interest.

Selling costs (% of resale price)Commission and other percentage-based sale costs.

Fixed sale costs & concessions ($)

04 Optional costs

Extra rehab buffer (%)Leave at 0 if your rehab budget already includes a buffer. Any extra amount is treated as spent and paid from your own funds.

05 Cash timing & reserves

Estimate upfront and draw-period funding, then include scheduled interest and holding costs through the modeled sale.

Peak work awaiting reimbursement ($)Largest amount of completed eligible work you expect to pay before reimbursement. Cannot exceed the modeled renovation commitment.

Liquidity reserve (% of modeled loan)Cash you choose to keep available. This is not a project expense unless spent.

Project outlook

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Estimated pretax profit: $33,500
Total cash invested: $78,500
Cash-on-cash return: 42.7%

Cash & project costs

Cash at acquisition: $60,200
Additional cash during the hold: $18,300
Total project costs: $366,500
Break-even resale price: $364,362
Profit / resale price: 8.4%

Cash-on-cash return = pretax profit ÷ total cash invested. This is the return for the whole project, not per year.

Loan & cost breakdown

Calculated costs

Extra rehab buffer: $0
Origination fees: $5,200
Loan interest during hold: $14,700
Non-interest holding costs: $3,600
Percentage-based selling costs: $24,000

Loan funding & sale proceeds

The cost-based request is tested against the maximum loan-to-ARV limit. If that limit is lower, this model reduces the acquisition and renovation portions proportionally; an actual lender may allocate proceeds differently.

Cost-based financing request: $260,000
Maximum loan allowed by the ARV limit: $300,000
Modeled acquisition advance: $200,000
Modeled renovation commitment: $60,000
Loan principal repaid at sale: $260,000
Average monthly interest: $2,450
Monthly interest after full draw: $2,600
Sale proceeds after selling costs & loan payoff: $112,000

Cash needed through the modeled hold

The first total covers the permanent contribution, closing and origination costs, the rehab buffer, temporary draw funding and the reserve you selected. The through-hold total also includes scheduled interest and non-interest holding costs.

Cash needed through modeled hold: $123,500
Initial, draw and reserve amount: $105,200
Scheduled interest and holding costs: $18,300
Modeled loan commitment: $260,000
Loan-to-ARV: 65.0%
Loan limited by: Cost-based financing request
Purchase and rehab not financed: $50,000
Acquisition closing costs: $5,000
Origination fees: $5,200
Cash-funded rehab buffer: $0
Peak work awaiting reimbursement: $19,000
Liquidity reserve: $26,000

The cost-based financing request is below the 75% loan-to-ARV maximum of $300,000.

What if the plan changes?

One change at a time. A sale delay keeps the renovation period unchanged. Higher rehab costs keep the original loan commitment.

Resale 5% lower$14,700 profit

Sale delayed by 3 months$23,900 profit

Rehab 10% higher$27,500 profit

Planning estimate before income taxes. Any extra rehab buffer is treated as spent. The liquidity reserve remains available unless used and is therefore not a project expense. Draw timing and approved lender terms may change cash needs.

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Read the result

Allow room for the unexpected.

Estimated profit equals resale price less all modeled costs. Loan principal is not deducted again because the purchase and renovation costs are already included. Profit is before income taxes; the margin shown is profit divided by resale price, not cash-on-cash return. Cash return uses all modeled cash invested before the sale, rather than just the down payment. Actual rehab draws, reimbursement timing, loan fees and delays can change cash needs.

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