Executive Summary
This case study examines the successful flip of a property located at 1429 Bridges Ave SW in Atlanta, Georgia. The project involved purchasing a property for $81,000, investing $90,000 in renovations over a 4-month period, and selling it for $250,000, resulting in a gross profit of $79,000.
Property Details
Address: 1429 Bridges Ave SW, Atlanta, GA 30310
Type of property: Single-family home
Square footage: 1,498 sq ft
Bedrooms/Bathrooms: 3 beds / 2 baths
Year built: 1940
Lot size: 0.21 acres
Acquisition
Purchase price: $81,000
Condition at purchase: Likely required major renovation
Renovation Plan
Estimated budget: $90,000
Planned improvements: 100% renovation project
Estimated timeline: 4 months
Renovation Process
Major improvements completed: Comprehensive renovation throughout the property
Total renovation cost: $90,000
Challenges: Longer process with the city and requirements
Marketing and Sale
Final sale price: $250,000
Financial Summary
Total investment (purchase + renovation): $171,000
Sale price: $250,000
Gross profit: $79,000
Return on investment (ROI): Approximately 46.2% (gross profit / total investment)
Time from purchase to sale: 4 months
Pros and Cons
Pros:
100% renovated project
Great community
Strong return on investment
Cons:
Major renovation required
Longer process with the city and requirements
Sale price on the upper end of the neighborhood
Lessons Learned
What went well: Successful completion of a comprehensive renovation with a significant profit margin
Market insights gained: The Atlanta market in this area supports fully renovated properties, particularly for homes with historical character
Conclusion
This property flip project in Atlanta, GA demonstrated the potential for substantial profit in real estate renovation, especially for older homes in desirable neighborhoods. The investment of $171,000 ($81,000 purchase + $90,000 renovation) resulted in a sale price of $250,000, generating an impressive gross profit of $79,000 in four months. This represents a strong return on investment of approximately 46.2%.
The project’s success highlights the value of comprehensive renovations in improving property appeal and market value, particularly for homes built in the 1940s. The significant profit margin suggests that the renovations were well-targeted to meet market demands in the area, possibly preserving historical features while adding modern amenities.
Despite challenges with city requirements and a longer process, the project was completed within the estimated 4-month timeline. This underscores the importance of efficient project management and anticipating potential regulatory delays when working with older properties in established neighborhoods.
The experience gained from this flip will be invaluable for future projects in the Atlanta area. It emphasizes the need for thorough planning, understanding local market dynamics, and navigating regulatory environments in property flipping ventures. The success also indicates a strong market for fully renovated historic properties in this area of Atlanta, which could inform future investment decisions.
For more details, visit the property listing on Zillow: 1429 Bridges Ave SW, Atlanta, GA
