Rehab Cost Estimator
A structured Excel workbook for scoping renovation costs before making an offer — room by room, system by system, with contingency built in.
Most landlords either guess at rehab costs or get burned by surprises after closing. This tool gives you a disciplined framework to estimate costs before you commit — organized by category, with room for contractor quotes, and a complete cash-to-close picture when combined with your purchase details.
What it covers
What it calculates
- Subtotal by category so you can see where the money is going
- Contingency amount based on your chosen percentage (default 15%)
- Total rehab cost including contingency
- Cost per square foot
- Total cash needed to close (down payment + closing costs + rehab)
- Estimated equity at completion based on your After-Repair Value (ARV)
How it works
- Enter property info and deal assumptions in the Inputs tab (purchase price, down payment, ARV)
- Work through each category — enter your estimated or quoted cost per line item
- Adjust the contingency percentage based on property condition and your risk tolerance
- Review the Summary tab for totals, cost per square foot, and total cash needed
What's included
- Rehab Cost Estimator Excel workbook (.xlsx)
- Inputs and Summary tabs with 50+ pre-labeled line items
- Contingency, cash-to-close, and ARV equity calculations
- Lifetime minor updates included
- Immediate download after purchase
Pair with the Rental Deal Analyzer
This tool works best alongside the Rental Deal Analyzer. Use the Rehab Cost Estimator to scope your renovation, then plug the total rehab cost into the Rental Deal Analyzer as your "initial repairs" figure to see the full deal picture — cash flow, return, and break-even — before you make an offer.
FAQ
Do I need contractor quotes to use this?
No. You can start with rough estimates and refine as you get real quotes. The tool is designed to work at any stage of the underwriting process — from first look to final offer.
What if my property only has one bathroom?
Just leave the Bathroom 2 and Bathroom 3 sections blank. The totals auto-calculate from whatever you fill in — unused sections contribute $0.
What contingency percentage should I use?
15% is the default. For a property in rough shape or one you haven't fully inspected, 20–25% is more conservative. For a light cosmetic renovation with solid contractor quotes, 10% may be sufficient.
Is this a subscription?
No. One-time purchase, lifetime minor updates included.