Purchase: $155,000
Renovation: $53,450
Projected ARV: $295,000
Final Sale Price: $268,300
Every flip tells a story — and this one in Aiken is a perfect example of why smart underwriting and flexibility matter more than perfection.
The Vision
This property was purchased for $155,000 with a renovation budget of $53,450, bringing total investment to:
Total Basis: $208,450
The projected ARV was $295,000, based on comparable sales at the time of purchase.
The plan?
Modernize the kitchen and bathrooms, refresh the exterior, and bring the home in line with what today’s buyers expect.
The Transformation
Kitchen
Outdated cabinetry and finishes were replaced with clean, modern selections that brightened the space and made it feel significantly larger. Updated countertops, fixtures, and lighting completely changed the functionality and buyer appeal.
Bathrooms
Dated tile and finishes were replaced with fresh, neutral selections that aligned with current buyer preferences. Bathrooms are emotional decision spaces — and this renovation made them feel move-in ready.
Exterior (Front & Back)
Curb appeal is everything. Fresh paint and exterior updates gave this home a welcoming presence — critical in a competitive market where buyers decide quickly.
The Market Shift
The property was listed in early December at $289,000.
By mid-January, after a strategic price reduction, it went under contract.
It ultimately sold at the end of February for $268,300.
What Happened?
This sale reflects a few realities:
- Winter market slowdown
- Increased buyer sensitivity to price
- Rising inventory and longer days on market
- A more cautious buyer pool than when the ARV was projected
The original ARV of $295K wasn’t unreasonable at the time of underwriting — but markets move.
The Numbers Breakdown
- Total Investment: $208,450
- Sale Price: $268,300
- Gross Spread: ~$59,850 (before holding costs, commissions, closing costs, financing)
This is why conservative underwriting matters.
This deal still worked — but margin compression is real in today’s environment.
Key Takeaways for Investors
- ARVs are snapshots in time. Markets can shift during your renovation window.
- Pricing strategy matters. The first 2–3 weeks on market are critical.
- Renovation quality still wins. Move-in ready homes move faster.
- Build in cushion. Conservative leverage protects your downside.
At Low Tide Private Lending, we structure deals to help investors weather market shifts — not just when things are perfect, but when they tighten.