Rehab Cost Estimator

Line cost = (per-sq-ft rate × square feet, or fixed cost) × region multiplier
Subtotal = sum of selected line costs
Contingency = subtotal × contingency %
Total = subtotal + contingency; cost per sq ft = total ÷ square feet

• Per-square-foot items such as paint, flooring, drywall, roofing and siding scale with the size of the house. The calculator uses one square footage for all of them, so adjust a line with a custom cost if, say, only half the floors are being replaced.
• Fixed items such as a bathroom, appliances or an HVAC system cost about the same whatever the size of the house.
• Region multiplier scales every default cost for local labor and material prices. A custom cost you type in is used exactly as entered, with no multiplier.
• Contingency is a percentage of the subtotal held back for surprises. It is part of the budget, not an optional extra.
• Not included: holding costs (taxes, insurance, utilities and loan interest while the work is underway) and financing costs. Count those separately in the rental property or BRRRR calculator.

Default costs used by this estimator

These are MakeLease planning defaults, not survey data, and they do not reflect national or local averages. They are starting points; replace them with contractor bids for your property.

You're turning a dated 1,400 sq ft house into a rentable unit in a medium cost area (1.0×). The scope is cosmetic: paint, floors, one bathroom, a kitchen refresh and some exterior cleanup. No systems, roof or structural work.

1. Bathroom Remodel: $8,000 × 1.0 = $8,000
2. Flooring Replacement: $8 × 1,400 sq ft × 1.0 = $11,200
3. Interior Paint: $3 × 1,400 sq ft × 1.0 = $4,200
4. Landscaping: $2,000 × 1.0 = $2,000
5. Appliances: $4,000 × 1.0 = $4,000
6. Countertops: $3,000 × 1.0 = $3,000
7. Lighting Fixtures: $2,000 × 1.0 = $2,000
8. Cleanup & Dumpster: $1,000 × 1.0 = $1,000

The line items add up to a subtotal of $35,400. A 10% contingency adds $3,540, for a total budget of $38,940, or $27.81 per square foot.

Flooring is the biggest single line because it scales with the whole house. If the bedrooms only need new carpet and the rest of the floors can be refinished, a custom cost for that line will move the total more than anything else here. Once you have a number you trust, carry it into the BRRRR calculator or the rental property calculator as the rehab budget.

A realistic rehab budget is one built from your scope and your contractors' prices, with a contingency on top. No national per-square-foot figure can tell you that, because what you are fixing matters far more than the size of the house. A cosmetic turn and a gut renovation of the same house can differ by several times.

What moves the number most:

• Scope. Kitchens, bathrooms, roofs, HVAC and foundation work are the large fixed-cost items. Paint and floors are cheaper per line but add up across the whole house.
• Age and hidden conditions. Older houses are more likely to have outdated wiring, plumbing or lead paint that change the scope once walls are open.
• Local labor and permits. Contractor rates and permit fees differ a lot between markets, which is what the region multiplier tries to approximate.
• Finish level. A rental usually needs durable, mid-grade finishes, not the materials you would choose for a flip or your own home.

For contingency, many investors use 10% to 20% of the line items as a rule of thumb, toward the high end for older properties and scopes that open walls. It is a cushion, not a forecast, so judge it against how many unknowns your scope has. Get at least two bids for the large items before you commit to the purchase, and check the total against what the finished property will rent or appraise for.

• Treating the defaults as quotes. They are planning numbers. Replace each one with a bid before you rely on the total.
• Skipping contingency on a tight deal. If the deal only works with zero overrun, it does not work.
• Forgetting permits, dumpsters and cleanup. Small lines, but they appear on almost every job.
• Applying square footage to partial work. If you are painting three rooms, not the whole house, enter a custom cost for that line.
• Mixing holding costs into the rehab line. Loan interest and utilities depend on how long the job takes, not what it includes. Track them separately so a delay shows up in your numbers.

Where do the default costs come from?

They are MakeLease planning defaults: round starting numbers so you can see the shape of a budget before you have bids. They are not survey data and do not represent national or local averages. Replace each line with a contractor's quote, or use the custom cost option, as soon as you have one.

How much contingency should I add?

Contingency covers what you can't see yet: rot behind a tub surround, wiring that won't pass inspection, a price change between bid and purchase. Many investors use 10% to 20% as a rule of thumb, at the higher end for older houses or scopes that open walls. The calculator defaults to 10% so you can see the effect; raise it if the scope has unknowns.

What does the cost region multiplier do?

It scales every default cost up or down to reflect that labor and materials cost more in some markets than others. Low is 0.7×, medium 1.0×, high 1.4× and very high 1.8×. These are rough planning factors, not measured regional indexes. A custom cost you enter for a line item is used as-is and is not multiplied.

Should holding costs go in the rehab budget?

Keep them separate. Taxes, insurance, utilities and loan interest during the rehab are holding costs. The rental property and BRRRR calculators have their own fields for them, so you can see how the length of the project, not just its scope, changes your returns.

• BRRRR Calculator

  Cash left in the deal after the refinance, including holding costs during the rehab.

• Rental Property Calculator

  Monthly cash flow, cap rate and cash-on-cash return, counting rehab and holding costs.

• Cash-on-Cash Return Calculator

  Annual pre-tax cash flow ÷ the cash you actually put into the deal.

See all landlord and investor calculators

• The BRRRR Method Explained: Buy, Rehab, Rent, Refinance, Repeat