“Flip or Flop” Greater Lowell Style

So we all LOVE the HGTV shows about flipping houses right? There is something so interesting about watching an old destroyed home transform into something beautifully brand new. The best is seeing the before and after pictures where you say to yourself “is that even the same house??”

Well in this high real estate market there is a surplus of flippers with plenty of canvases available, especially in one of the oldest parts of the country. It is so satisfying to see a property go from old to new in just a few months.

Here are some real life examples of flips in Greater Lowell:

Mount Vernon St. Lowell, MA 

Bought for around $155,000 8/28/2015 – Under Agreement for $260,000 1/2/2017

  • 4 month renovation
  • Estimated profit = $20,000-$40,000


Mansur St. Lowell, MA 

Bought for $243,000 5/9/2016 – Sold for $399,000 9/29/2016

  • 5 month renovation
  • Estimated profit = $50,000-$90,000

 

Mead St. Lowell, MA 

Bought for $68,700 3/30/2016 – Sold for $206,000 10/28/2016

  • 7 month renovation
  • Estimated profit made = $40,000-$60,000

 

The next project was actually done by my Aunt and Uncle and their partners/ close friends. This property came out stunning when they were finished with it!

Frost Rd. Tyngsboro, MA

Bought for $225,000 12/30/2015 – Sold for $385,000 8/24/2016

  • 7 month renovation
  • Estimated profit = $60,000-$80,000

 

This project was done by my co-workers at Z.R. Rourke Real Estate and Rourke Construction. The transformation is absolutely amazing.

Grafton St. Lowell, MA 

Bought for around $169,000 3/1/2016 – Sold for $290,000 11/18/2016

  • 7 month renovation
  • Estimated profit $50,000-$70,000

 

If you know any houses that are an eye-sore in Greater Lowell, give me a call!

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