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- #94: High-Return Bay Area Flip for Under $500K
#94: High-Return Bay Area Flip for Under $500K
Richmond fixer with comps pushing $600K+ and room to run.
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Note on Numbers: All calculations for investment properties are based on a 25% down payment and a current interest rate of 6.89%, unless otherwise stated. For house hacks, we assume a 5% down payment with PMI at 0.4% and a 6.45%(FHA) interest rate. We do the math so you can focus on what matters – the deals!

Cosmetic Flip With 90.5% ROI
📍 Address: 800 Payne Dr, Richmond, CA 94806
💰 Price: $450,000 ($50K under asking)
🏠 Units: Single Family
🏦 ROI: 90.5%

Why This is a Great Investment:
This Bay Area fixer needs nothing more than a clean cosmetic refresh to deliver serious upside. You're walking in $50K below list price, and a light rehab gets you to an ARV of $615K. That’s a 90.5% ROI for a relatively simple flip.
The home has solid bones, a usable layout, and sits in a prime commuter corridor near shopping, schools, restaurants, and public transit. The garage has been converted into a studio, offering bonus utility.
The Stats (10% Down, Hard Money Loan) 📝
Purchase Price: $450,000 ($50k under asking)
ARV: $615,000
Rehab Costs: $46,200 (10% Contingency)
Down Payment: $45,000
Selling Costs (4.5%): $27,702
Holding Costs (3 Months): $13,262
Total Profit: $64,936
ROI: 90.5%
San Francisco 5-Unit Flip or BRRRR With $403K Profit
📍 Address: 297-299 Corbett Ave, San Francisco, CA 94114
💰 Price: $1,200,000
🏠 Units: 5 Units
🏦 ROI: 90.5% | BRRRR Cash Flow: $1,919/mo | CoC: 137.5%

Why This is a Great Investment:
Delivered with 4 of 5 units vacant and 3 already gutted, this multi-family property is a dream for developers and experienced investors. With panoramic views, light cosmetic upgrades, and comps near $2.2M, the flip potential is massive.
Or BRRRR it. Stabilized rents push $16,000/month. The refi puts $16K back in your pocket with just $5,500 left in the deal. Either strategy delivers serious returns.
The Stats (10% Down, Hard Money Loan) 📝
Purchase Price: $1,200,000 (Large ARV spread leaves room to go over asking and still hit solid profit.)
ARV: $2,218,000
Rehab costs: $286,000 (10% Contingency)
Cash Needed: $155,350
Selling Costs (4.5%): -$99,810
Holding Costs (7 Months): -$96,860
Total Profit: $504,480
ROI: 90.5%
PRO users are also getting the BRRRR version of this property. Check it out here.
Need a Lender Who Actually Gets Investor Deals?
A good deal dies without the right financing — but Mike LeHoty makes sure yours doesn’t.
He works exclusively with real estate investors and can fund almost any strategy: DSCR, Fix & Flip, Bridge Loans, Short-Term Rentals, Conventional, and more.
With access to hundreds of investor-friendly programs, Mike can custom-fit financing to your current deal and help you plan ahead for the next one.
📞 Call/Text: 440-557-2887
📧 Email: [email protected]
Mike LeHoty | Loan Originator | NMLS #2657277
San Diego Flip With 107% ROI
📍 Address: 9562 Benavente St, San Diego, CA 92129
💰 Price: $998,000
🏠 Units: Single Family (4 Bed, 2.5 Bath)
🏦 ROI: 107%

Why This is a Great Investment:
Under $1M in one of San Diego’s most desirable family-friendly neighborhoods. Strong bones, big layout, and high ceilings make this a cosmetic remodeler’s dream. Comps push $1.44M and the projected profit clears $140K after tax.
You’re sitting in Rancho Peñasquitos with top schools and a $446K discount from DealCheck value. This is how six-figure flips are done.
The Stats (10% Down, Hard Money Loan) 📝
Purchase Price: $998,000
ARV: $1,444,000
Rehab costs: $137,500 (10% Contingency)
Down Payment: $99,800
Selling Costs (4.5%): $64,980
Holding Costs (4 Months): $37,803
Total Profit: $177,503
ROI: 107%
San Diego House Hack w/ $2,054 Effective Mortgage
📍 Address: 4159 35th St, San Diego, CA 92104
💰 Price: $1,250,000
🏠 Units: 4 Units (Live in 1, Rent 3)
🏦 Effective Mortgage: $2,054/mo

Why This is a Great Investment:
This is the ideal house hack play—only 5% down with FHA financing. Live in one unit and let three other tenants cover the mortgage. You're walking into a cash-flowing setup in one of San Diego's most renter-friendly locations.
Plus, two single-car garages offer ADU conversion upside. Strong location, stable rents, and tons of long-term value.
The Stats (5% Down FHA) 📝
Investment Metrics
Purchase Price: $1,250,000
Down Payment: $62,500
Purchase Costs: $37,500
Total Cash Needed: $100,000
Gross Rent: $7,650/month
Owner occupies one of the 1-bedroom units while renting out the other two 1-bedroom units and the 2-bedroom unit
Operating Expenses: $1,802/month
Net Operating Income: $5,848/month
Mortgage Payment: $7,902/month
Effective Mortgage: $2,054/month
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Disclaimer: The content provided through Dealsletter, including investment metrics, property analysis, and rewards materials, is for informational and educational purposes only. It does not constitute financial, legal, or investment advice. Always conduct your own due diligence or consult a licensed professional before making any investment decisions. Dealsletter assumes no responsibility for any financial outcomes resulting from actions taken based on the information provided.
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