132 Winona Ave

Most of the time when we talk about Renos for Revenue, we have to estimate what a home would have sold for as-is. With 132 Winona Ave we don’t have to estimate anything. Hinchey Homes purchased this property outright, renovated it ourselves, and sold it. Every number is real.

We bought Winona for $546,000. We invested $218,597 into a strategic renovation, the same scope of work we would have run for a client through the program. When the renovation was complete the bank appraised the home at $980,000 (and bank appraisals almost always come in below true market value). That’s still a 198.5% return on every renovation dollar.

If a homeowner had come to us with this same house instead of selling it to us, the Renos for Revenue program would have netted them roughly $164,000 more in their pocket than listing it as-is on the open market. And because it would have been their primary residence, every dollar of that additional profit would have been tax-free.

We share Winona because it removes the speculation. The full math is laid out side-by-side on our Renos for Revenue overview. Below is the actual transformation, room by room.