If you want to flip homes in Greater Washington, Prince George’s County is the most popular — and the most profitable.
About 12.3 percent of all homes sold in Prince George’s during the first quarter of 2017 were flips, and sellers averaged $117,223 in gains per house, according to data collected by Attom Data Solutions.
That puts Prince George’s far ahead of the rest of the region in both number of flips and return on investment (about 80.4 percent), with the District coming in at No. 2 with an average of $175,001 gained per flipped house, a return on investment of about 58.3 percent.
The homes flipped in Prince George’s tend to be purchased for less than flipped homes in the District, about $145,778 compared to $299,999, according to the data, which explains the lower return on investment despite larger absolute gains.
Arlington saw some of the lowest ROI, with homes sold for a 19.6 percent return on investment, for an average $98,000 gain. Fairfax and Falls Church cities…Read the full story from the Washington Business Journal.
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