Fix and Flip Calculator
Run the numbers on a house flip before you make an offer. Enter the price, rehab budget, after-repair value and loan terms to see your profit, return on cash, cash invested and the most you can pay to hit your target.
How to calculate fix and flip profit
Fix and flip profit is the sale price minus everything it cost to buy, renovate, finance, hold and sell the property. Work it out in three steps.
Add up your all-in cost
Add the purchase price, buying closing costs, rehab budget and a contingency of 10% or more. Then add loan points, lender fees and interest, plus holding costs like property tax, insurance and utilities.
Take selling costs off the ARV
Agent commission and seller closing costs usually come to 6% to 8% of the sale price. Subtract them from the after-repair value to get your net proceeds.
Compare profit with your cash in
Net profit = net proceeds - all-in cost. Divide it by the cash you put in, not the total cost, to get your return on cash. Multiply by 12 and divide by the months held to annualize it.
Worked example
A flipper buys a house for $180,000 with a $45,000 rehab and expects it to sell for $330,000 in six months. A hard money lender funds 85% of the price and all of the rehab at 11% and 2 points.
All-in cost = $180,000 + $3,600 closing + $49,500 rehab and contingency + $15,525 financing + $4,800 holding = $253,425
Net proceeds = $330,000 - $23,100 selling costs = $306,900
Net profit = $306,900 - $253,425 = $53,475, or 16.2% of ARV
Estimated cash invested = $253,425 - $198,000 loan = $55,425
ROI on cash = $53,475 ÷ $55,425 = 96.5%, or about 193% annualized
Taxed as an investment gain at a flat 24%, the federal tax estimate is about $12,834, leaving $40,641. That's an estimate under the calculator's assumptions, not a confirmed tax outcome. The 70% rule max is $186,000, so the $180,000 price passes, and the most they could pay and still make 15% of ARV is $183,668.
Other calculators you might be interested in
70% Rule Calculator
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Plan a buy, rehab, rent and refinance and see the cash you pull out.
Capital Gains Tax Calculator
Estimate the federal tax when you sell an investment property.
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Where flip profit really goes
Fix and Flip Calculator
On a $180,000 buy with a $45,000 rehab, a typical hard money loan costs about $15,500 in points, fees and interest over six months. Add $4,800 of holding costs and $23,100 to sell, and more than $43,000 is gone before you see a dollar.
The price you pay decides the profit
ATTOM found the gap between purchase and resale price was the main driver of flip returns in early 2026, and a smaller rehab didn't make up for a thin spread. That's why this calculator works back from your target to the most you should offer.
Why use our fix and flip calculator?
- Models common hard money loan terms: points, fees, and interest only on the rehab money you've drawn, which you can match to your lender
- Works back to your max offer from the profit or ROI you want
- Shows your profit across rehab overruns and delays in one grid
- Estimates federal tax, including self-employment tax if you flip as a business
- Free, no sign-up and ready to print
FAQs
How do you calculate profit on a fix and flip?
Start with the after-repair value and subtract every cost: the purchase price and closing costs, the rehab and a contingency, loan points, fees and interest, holding costs like property tax and utilities, and selling costs. A $180,000 house with a $45,000 rehab that sells for $330,000 has about $276,500 of costs, which leaves roughly $53,500 before tax.
What costs do people forget when flipping a house?
Financing, holding and selling costs are the ones most often left out. On a six-month flip with a hard money loan, points, fees and interest can add about 5% of the sale price, taxes, insurance and utilities another 1% to 2%, and selling costs 6% to 8%. In the example deal those three come to about $43,400, or 13% of the ARV.
What is a good ROI on a house flip?
There's no single benchmark, so judge each deal against your own target and its risk. Compare net profit after every cost with the cash you put in, and use annualized ROI as a simple way to compare flips of different lengths. ATTOM's Q2 2026 report puts the typical gross return at 21.5% of the purchase price, but it measures resale price against purchase price only, before rehab, financing, holding and selling costs, so it isn't directly comparable with this calculator's net figures.
How are house flipping profits taxed?
House flipping profits may be ordinary business income or capital gains, depending on how you hold the property and conduct the activity. Property held primarily for sale to customers in a flipping business generally produces ordinary business income and may attract self-employment tax. If the property qualifies as an investment, gains are generally short-term when held for one year or less and long-term when held for more than one year. State taxes and additional federal taxes may also apply, so check with a tax professional.
How much cash do I need to flip a house with a hard money loan?
Plan for a down payment of 10% to 20% of the price, plus closing costs, points and lender fees at closing. You'll also need cash for monthly interest, holding costs and any rehab contingency the lender won't fund. In the example deal, that's about $36,000 at closing and an estimated $55,400 over the whole flip, or more if your lender reimburses rehab draws after the work is done.