Browse Get Homes · Educational Resource
Educational Case Study: Screening a Santa Clara County Fixer with Public Data
This walkthrough shows the method Browse Get Homes uses when a member asks how a fixer opportunity is screened. Every figure below is an illustrative assumption applied to publicly available, lawfully obtained information.
Educational example only. This is not a current listing, not a property available for purchase, not an appraisal, not a valuation opinion for lending, and not a promise or projection of profit. Figures are illustrative assumptions applied to publicly available or lawfully obtained data. No specific property, seller, or transaction is identified, and no outcome is represented as achieved or achievable.
Step 1
Purchase assumptions
Screening starts with an acquisition figure and the real cost of getting to close. Public-record sale history and active asking prices frame the range; the figure below is illustrative.
| Illustrative purchase price | $1,050,000 |
|---|---|
| Closing costs on purchase (assumed 1.5%) | $15,750 |
| Assumed financing | Hard money, 80% of purchase, 10.5% interest-only |
| Assumed down payment and loan points | $210,000 + 2 points ($16,800) |
Step 2
Rehabilitation assumptions
Scope is estimated from photos, public permit history, and typical condition for the era of construction. It is never a substitute for contractor bids and inspections.
| Assumed scope | Full cosmetic refresh, kitchen and two baths, roof repair, landscaping |
|---|---|
| Assumed rehab budget | $135,000 |
| Assumed contingency (10%) | $13,500 |
| Assumed permit and design allowance | $9,000 |
Step 3
Holding and selling assumptions
Carry costs decide more fixer outcomes than purchase price does. These are modeled explicitly rather than assumed away.
| Assumed hold period | 6 months |
|---|---|
| Assumed interest carry | $44,100 |
| Assumed property tax, insurance, utilities | $9,600 |
| Assumed selling costs (5.5% of resale) | $74,250 |
Step 4
Comparable-based resale range
Resale is expressed as a range derived from recorded comparable sales, not a single confident number. A comparative market analysis is not an appraisal.
| Comparable resale range from public sold data | $1,320,000 – $1,410,000 |
|---|---|
| Illustrative resale figure used | $1,350,000 |
| Total illustrative project cost | $1,278,000 |
| Illustrative gross margin before taxes | $72,000 |
Step 5
Sensitivity
The point of the exercise: how quickly the outcome moves when one assumption changes.
| Resale $1,410,000 · rehab on budget | Illustrative margin improves by roughly $57,000 |
|---|---|
| Resale $1,275,000 · rehab on budget | Illustrative margin turns slightly negative |
| Rehab overrun of 20% | Illustrative margin falls by roughly $27,000 |
| Hold extends to 9 months | Illustrative margin falls by roughly $27,000 |
Step 6
Risks
- • Comparable sales may not reflect current conditions and can change quickly.
- • Rehab scope discovered after inspection frequently exceeds the pre-purchase estimate.
- • Permit and inspection timelines in Santa Clara County jurisdictions can extend the hold period.
- • Financing terms, rates, and points vary by borrower and lender and may differ materially.
- • Unpermitted work, foundation or drainage issues, and title conditions can eliminate the margin.
- • Selling costs, concessions, and market timing all move the outcome.
Step 7
Due diligence before any offer
- • Order independent inspections and, where appropriate, specialist reports.
- • Verify permit history and zoning with the city or county directly.
- • Obtain contractor bids in writing before committing to a rehab budget.
- • Review preliminary title and any recorded encumbrances with escrow and counsel.
- • Confirm valuation with a licensed appraiser or your lender's valuation process.
- • Confirm tax treatment with your own CPA or tax advisor.
Data sources
Screening of this kind draws on county assessor and recorder records, published permit data, publicly posted listing information, and member-supplied assumptions. Nothing on this page relies on confidential, privileged, or non-public brokerage information.
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Educational content only. Not legal, tax, accounting, appraisal, contracting, or investment advice. Ugochukwu “Ashton” Ogamba, REALTOR® | eXp Realty, California DRE #02158223 (eXp Realty California DRE #01878277). A comparative market analysis is not an appraisal. Estimated ARV, rent, repair, profit, cash flow, and return figures are preliminary estimates based on assumptions and available data; actual results may differ significantly. Equal Housing Opportunity.