Mcreynolds Renovation
Built in 1895 | 1100 sq.ft.

Details

Purchase Date: September 2025

Timeline: 5 months

Purchase Price: $90,000

Investment: $140,000

Total Investment: $230,000

After Repair Value (ARV): $280,000

Forced Equity: $50,000

Monthly Rental Price: $2,200

Project

  • Full gut renovation (down to studs)

  • All new mechanicals (electrical, plumbing, HVAC)

  • Raise roof to make 3 bedroom

  • New kitchen (white shaker cabinets, quartz counters, stainless appliances)

  • New bathrooms with marble-style tub surround

  • New flooring, lighting, trim, paint

Outcome

  • Modern 3 bed / 1.5 bath turnkey home

  • Estimated value $280K

  • Approximately $50K forced equity created

  • Designed as a low-maintenance long-term rental asset valued at $2200/month

This project involved the full gut renovation of a distressed single-family home in Grand Rapids, Michigan. Originally built in 1895 and configured as a dated 2-bedroom, 1-bath home, the renovation reworked the layout to create a modern 3-bedroom, 1.5-bath house with all new mechanicals, a new roof, completely rebuilt interior finishes and a new backyard deck.

The renovation included new kitchen cabinetry and appliances, updated bathroom with marble-style surround, new flooring throughout, recessed lighting, fresh trim and paint. By taking the home down to the studs and rebuilding it with durable, modern finishes, the property now functions essentially like a newly built home while maintaining the original structure.

New Flint purchased the property for $90,000 and spent approximately $140,000 in renovations, bringing the total investment to about $230,000. With an estimated after-repair value (ARV) of $280,000, the project created roughly $50,000 in forced equity while delivering a fully turnkey rental-quality home designed for long-term durability and strong tenant demand with an approximate gross rental income of $26,400 annually.

After holding the property for 6 months we refinanced and took out 70% of the $280k ARV ($196,000) leaving only $34,000 in this project ($230k investment - $196k cash-out refinance = $34k net investment).

Post-Renovation Photos