Joybird ranked the best states to flip homes based on maximum return on investment and several other factors.
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Flipping a house can be a lucrative business, especially if you choose the right location.
joybirda handcrafted furniture company analyzed 11 factors in the national real estate market to reveal the best locations to maximize the return on investment in inverted homes.
The coefficients used were determined using data from Zillow, Redfin, US Bureau of Labor Statistics and others. They include:
- median house price
- Fixer Upper House Average Price
- Number of Fixer Upperhouses
- Median days on the market
- Total ROI of Home Reversal
- Property tax rate
- average kitchen renovation cost
- average bathroom renovation cost
- number of realtors
- Number of construction managers
- number of construction workers
Five of the top 10 states in Joyride’s final ranking are located in the South, demonstrating that this part of the United States is perfect for home flips.
Louisiana is a great state for flipping homes. The Joybird report gave the state a score of 41.1 out of 50.
The average price of a Fixer Upper House in Louisiana is $196,763. The state also provides a large construction workforce, the report said.
2022 reversal gross margin of $75,000 and gross ROI of 55.6%, representing a 3% increase from 2021. motley fool.
One of the benefits Louisiana offers to those looking to upgrade their home in the state is a low property tax rate of 0.55% (0.44%). lower than national average 0.99%.
According to Joybird, Louisiana is the best U.S. state to flip homes.
Image by Eric Pronske Photography | Moments | Getty Images
- Louisiana
- Michigan
- Alabama
- Delaware
- Ohio
- Pennsylvania
- Maryland
- Mississippi and Virginia (tie)
- Mississippi and Virginia (tie)
- florida
Michigan is the second best state for reversing housing with a score of 38.3 out of 50.
according to motley fool According to the report, Michigan’s 2022 reversal gross profit was $58,247, with a gross ROI of 51.70%.
The median home price in Michigan is $235,361, up 2.3% over the past year. The median number of days on the market was 17 days, an increase of 2 days from the previous year. redfin report.
According to Joybird, Alabama ranks among the top three states for housing reversal.
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Alabama is the third best state for home reversal with a score of 37.7 out of 50.
According to Zillow, the average home price in Alabama is $223,246, up 4.6% over the past year.
That’s almost half the national median selling price of an existing home in the US of $410,200. National Real Estate Agents Association.
In 2021, Montgomery, Alabama was in the Top 10 Best Places to Transform Your Home, according to. wallet hub. It was also ranked as the city with the highest market potential.
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