5 Best and Worst Cities for House Flipping ROI
here’s a look at five cities that still offer robust returns and five markets worth avoiding for return on investment from flipping houses, according to Attom Data Solutions.
Nearly 54,000 houses were flipped during the second quarter of 2017, with investors making an average profit of $67,516 per property and 48.4% return on investment, according to Attom Data Solutions.
Investment returns on flipped houses have declined nationwide for three straight quarters.
But some cities still have a robust flipping market, while other cities are just worth avoiding.
Here’s a look at the five best and five worst cities for house flipping investment returns during the second quarter of 2017.
No. 1 Best: Pittsburgh, Pa.
Original purchase price: $58,800 Flipped price: $145,000 Gross profit: $86,200
No. 1 Worst: Honolulu
Original purchase price: $399,000 Flipped price: $470,000 Gross profit: $71,000
No. 2 Best: Baton Rouge, La.
Original purchase price: $69,000 Flipped price: $152,000 Gross profit: $83,000
No. 3 Best: Philadelphia, Pa.
Original purchase price: $86,000 Flipped price: $184,000 Gross profit: $98,000
No. 4 Best: Harrisburg, Pa.
Original purchase price: $73,750 Flipped price: $149,900 Gross profit: $76,150
No. 5 Best: Cleveland, Ohio
Original purchase price: $55,000 Flipped price: $111,000 Gross profit: $56,000
No. 2 Worst: Boise, Idaho
Original purchase price: $187,964 Flipped price: $232,218 Gross profit: $44,254
No. 3 Worst: Austin, Texas
Original purchase price: $266,000 Flipped price: $335,160 Gross profit: $69,160
No. 4 Worst: San Jose, Calif.
Original purchase price: $685,000 Flipped price: $870,000 Gross profit: $185,000
No. 5 Worst: San Francisco, Calif.
Original purchase price: $535,000 Flipped price: $680,000 Gross profit: $145,000