Issue #193November 4, 2026
#193: Jacksonville $215k fixer. ~$15k net at list
Four flips across two states. 1443 Boulevard (Jacksonville) nets about $15k at its $215k list but fails stress, so bid $191k. 316 S White Ave, 4030 Woodland Ave and 2509 Cleveland Ave (Kansas City) only work as bids.
Financing note
Every card assumes a 10% down hard money loan at 9.95% interest-only, with rehab lender-funded. Every card carries a full 12 months of interest. Cash in is the down payment plus 3% purchase closing costs. ROI is on cash in. Sell costs are 4.5% of ARV. 1443 Boulevard is priced at list. White, Woodland and Cleveland are priced at the bid because list fails stress or loses money.
JACKSONVILLE FEATUREKANSAS CITY WHITE BIDKANSAS CITY WOODLAND BIDKANSAS CITY CLEVELAND BID
FEATURED FLIP · JACKSONVILLE
1443 Boulevard, Jacksonville, FL 32206
rehab & flip · at list$215K
FINANCING
Terms
10% down hard money, 9.95% IO, rehab lender-funded
OPPORTUNITY
At list $215,000: cash in $27,950. Rehab $115k lender-funded. 12-month hold, interest included. Net about $14.9k. 53% ROI. On a 6-month hold it nets about $30.2k. At a $191k bid it nets about $41.7k. Active $215,000 in Springfield, across from Klutho Park. 4 bd / 2 ba, 1,836 sf, built 1908, MLS 2170627. Sold comps: 1405 Boulevard $428,000 (10/16), 53 W 10th St $455,000 (6/23), 1635 N Laura St $382,000 (5/8). $400k ARV is about $218/sf, under the 10th St sale. Bid $191k: net about $41.7k and still positive under stress.
RISK
Thin at list: about -$23k under stress at $215,000. $115k rehab on a 1908 two-story. Power is off, so systems are unverified. Cash or hard money only. Stress hits zero near $194k. Never pay above that.
VERDICT
Feature, but bid $191k. List is too thin. Walk away at $194k.
KANSAS CITY BID · FOREST PARK
316 S White Ave, Kansas City, MO 64123
rehab & flip · bid-price$56K bid
FINANCING
Terms
10% down hard money, 9.95% IO, rehab lender-funded
OPPORTUNITY
Headline is the $56k bid, not list. List $70,000 nets about $4.4k and fails stress. At $56,000: cash in $7,280. Rehab $55k lender-funded. 12-month hold, interest included. Net about $20.1k. 276% ROI. On a 6-month hold it nets about $25.3k. Active $70,000, as-is. 2 bd / 1 ba, 1,003 sf, built 1917, MLS 2647213. 64123 sold comps: 336 N Brighton $200,000, 123 N Drury $155,000, 404 N Gladstone $260,000. $150k ARV sits under the comp range.
RISK
Full remodel needed. $55k rehab is an estimate. Fails stress at list: about -$11.8k at $70,000. Stress hits zero near $59k. Don't go above that.
VERDICT
Bid $56k. Walk away at $59k.
KANSAS CITY BID · DEEP BID
4030 Woodland Ave, Kansas City, MO 64110
rehab & flip · bid-price$53K bid
FINANCING
Terms
10% down hard money, 9.95% IO, rehab lender-funded
OPPORTUNITY
Headline is the $53k bid, not list. List $99,000 loses about $24.8k. At $53,000: cash in $6,890. Rehab $85k lender-funded. 12-month hold, interest included. Net about $26.7k. 388% ROI. On a 6-month hold it nets about $33.3k. Active $99,000, listed 9/29. 4 bd / 2 ba, 1,342 sf, built 1890, MLS 2643744. 64110 sold comps: 3925 Manheim $300,000 ($145/sf), 5016 Lydia $250,000 ($127/sf). $188k ARV is $140/sf. 5433 Tracy ($325k) is a stronger pocket, left out. A month on market. Room to push a low offer.
RISK
No HVAC and exposed framing. $85k rehab can run over. List loses money: about -$24.8k at $99,000. Cash only. Deep bid, so the seller may pass. Stress hits zero near $56k.
VERDICT
Bid $53k. List is far off. Walk away at $56k.
KANSAS CITY BID · CLEVELAND HEIGHTS
2509 Cleveland Ave, Kansas City, MO 64127
rehab & flip · bid-price$76K bid
FINANCING
Terms
10% down hard money, 9.95% IO, rehab lender-funded
OPPORTUNITY
Headline is the $76k bid, not list. List $95,000 loses about $3.0k on 12 months. At $76,000: cash in $9,880. Rehab $45k lender-funded. 12-month hold, interest included. Net about $18.2k. 185% ROI. On a 6-month hold it nets about $23.9k. Active $95,000. 3 bd / 1.5 ba, 1,002 sf brick ranch, 1-car garage, MLS 2648268. 64127 sales: 1230 Drury, 1118 Monroe, 1106 Agnes, last listed $139.9k to $175k. Confirm exact sold prices. $160k ARV is about $160/sf for a renovated ranch.
RISK
Price went from $49,900 to $95,000 on 10/28. Some sites still show the old price. Rehab $45k is a placeholder. One listing photo, interior unseen. Cash only, significant repairs throughout. Stress hits zero near $79k.
VERDICT
Bid $76k. Walk away at $79k.
Status Verification
Status check. Thin week. Only one card is positive at list. Bids are the play. All four verified active on November 1, 2026 on MLS and broker sites. Underwrite: 10% down hard money at 9.95% for 12 months, 4.5% to sell. All numbers are estimates, not advice. Do your own due diligence. Every card assumes 10% down hard money at 9.95% interest-only with rehab lender-funded and a full 12 months of interest. Cash in is the down payment plus 3% purchase closing costs, selling costs are 4.5% of ARV, and ROI is on cash in. ARVs are set from nearby public-record sold prices. Rehab is an assumption, not a contractor bid. Dealsletter is not affiliated with the listings.
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