Fix & Flip Calculator

What it does

See the profit before the surprise.

This calculator is for anyone sizing a fix-and-flip: total project cost, selling costs, gross and net profit, ROI, and the sale price at which you break even. The numbers are only as good as the assumptions, so the estimated after-repair value and rehab costs you enter matter more than anything else.

What each major input means

• ARV: the price the finished property should sell for, from comparable sales of renovated homes.
• Rehab costs: your renovation budget, including a contingency for work hidden in walls.
• Holding costs: taxes, insurance, utilities, and HOA for every month you own the property during and after rehab.
• Financing costs: interest and fees on any flip loan or hard money, which accrue monthly.
• Selling costs: commissions, closing costs, and concessions, entered as a percentage of the sale price.

How the calculation works

Costs first, then the price

Total project cost adds the purchase price, rehab, purchase closing costs, financing costs, and holding costs (monthly items times your holding period), plus other expenses. Selling costs are estimated as a percentage of the ARV. Gross profit is ARV minus project cost; net profit subtracts selling costs. ROI divides net profit by the cash you put into the project. The break-even sale price is the price at which selling costs and project costs exactly consume the sale, so your net is zero.

What the outputs mean

• Net profit is the number that matters: what you actually keep after every cost.
• ROI compares that profit to your cash outlay, which changes with how you finance the flip.
• Break-even sale price tells you how far the market can drop before the project loses money.