Rehab Estimate (Renovation Budget)
A realistic starting guess at what the renovation will cost, based on the home's age and how the listing itself describes its condition.
The rehab estimate is a transparent starting budget, not a contractor quote. It starts from a per-square-foot rate keyed to the building’s age (a 1970s house needs more than a 2015 one), then reads the listing’s own words — "as-is", "investor special", "fully gutted", "needs TLC" — and raises the tier accordingly.
Tiers run from light cosmetic (paint, flooring, fixtures) through medium (kitchen/bath refresh) to heavy and full-gut renovations.
Always slide the number after seeing the property — the estimate exists so your first pass at cash flow and flip profit is grounded, not so you skip the walkthrough.