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Two St Louis Areas were the most profitable zips in the U.S. for flipping property in 4th quarter

Two zip codes in the city of St Louis made RealtyTrac’s list of “Zips with the highest gross returns (from flipping property)” for 4th quarter, 2014.  The 63139 zip code, which includes the Dog Town area of St Louis, came in number 2 on the list with an average gross return on investment of 163.9% and the 63116 zip code, which includes Tower Grove South, Holly Hills, Dutchtown South and Bevo, came in 9th on the list with an average gross return on investment of 127.7%.

To be eligible to be considered for the list, there had to be at least 10 single family homes “flips” completed during the 4th quarter of 2014.  In the 63139 area of St Louis, there were  18 such home flips during the quarter with an average purchase price of $9,000 and an average gross profit of $14,750 from the flip.  In the 63116 zip area, there were 21 flips during the quarter with an average purchase price of $27,721 and an average gross profit of $35,407.   The table below shows the data for all 10 top gross returns from flipping property zips in the U.S.

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 Zip Codes with the highest gross returns from flipping property – 4th Quarter 2014

Zip Code City MSA Q4 2014 Home
Flips
Pct of
Total
Sales
YoY Pct
Change
Avg
Purchase
Price
Avg
Gross
ROI
Flipping
Avg Gross
Profit
21218 Baltimore Baltimore-Towson, MD 14 11.0% 2.0% $51,233 208.6% $106,847
63139 Saint Louis St. Louis, MO-IL 18 14.0% -9.3% $9,000 163.9% $14,750
32205 Jacksonville Jacksonville, FL 19 13.8% -10.5% $52,216 157.0% $81,962
60643 Chicago Chicago-Naperville-Joliet, IL-IN-WI 12 11.8% 31.8% $150,750 153.7% $231,750
60402 Berwyn Chicago-Naperville-Joliet, IL-IN-WI 20 11.5% 0.1% $93,000 149.7% $139,222
21207 Gwynn Oak Baltimore-Towson, MD 20 13.2% -29.4% $76,275 149.7% $114,168
48220 Ferndale Detroit-Warren-Livonia, MI 12 6.7% 54.1% $70,200 141.5% $99,300
21213 Baltimore Baltimore-Towson, MD 11 6.7% 19.2% $39,180 137.9% $54,020
63116 Saint Louis St. Louis, MO-IL 21 13.3% -10.4% $27,721 127.7% $35,407
20743 Capitol Heights Washington-Arlington-Alexandria, DC-VA-MD-WV 22 19.5% -18.9% $97,371 119.9% $116,764

Averages from these top 10 zip codes for biggest average percentage return on flips:

  • Average of 17 flips during the fourth quarter
  • Average flip share of 12 percent of all single family home sales
  • Average increase of 3 percent in share of flips from a year ago
  • Average purchase price of $66,695
  • Average gross profit of $99,419 and average gross return of 150.9 percent

Data source:  RealtyTrac

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