https://www.redfin.com/CA/Union-City/621-Tamarack-Dr-94587/home/667936
Bought April 2021 (850K) → Sold July 2021 (1.3M) - quite efficient
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Anybody have any idea what will be the approximate cost of labor+materials+permits? Sq footage increased from 1494sqft to 1784 sqft. If one goes into “sales history” there are pictures of what the old house looked like.
$600-$1000/sf
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Realistically, if you pull an owner permit and hire an unlicensed contractor (which means you are taking on liability as owner) and be heavily involved in the remodel process, I think you can get it done under $200k. My guess is the asking price of 1.1 is probably close to the total cost of the seller (including sales costs).
If you want to hand it off to a licensed contractor and be completely worry-free and risk-free and just reap the rewards, then you’ll be looking at a number close to what elt1 suggested (probably not this high though).
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The smaller the project the higher the price/sf. Not enough info to get an accurate cost. BTW, $600x 290 sf is like $175k. I assume a lot of work was needed in the rest of the house. The high cost of remodel projects is definitely driving up the cost of turnkey listings.
There are hardly any flippers right now. Unless they are a one person shop they can’t afford or find subcontractors. Plus using unlicensed contractors can bite you in the butt….disclosure laws can kill you.
My last project I hired the most expensive best contractor in town. I intend to sell . There is piece of mind that he will be on the hook like me with future issues. He offered to come out today with one hours notice to fix a minor problem
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BTW how’s traffic on dumbarton nowadays? Bay Bridge is pretty much back to pre-Covid level.
In this flip the extra square footage was probably already there and it just needed to be legalized. The majority of the money was spent on the new kitchen and bathrooms and new flooring and new windows (maybe new plumbing and new electricals too). It doesn’t make sense for this flip to add a brand new 290 sq ft of new construction.
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