BRRRR Case Study
Indianapolis duplex BRRRR: $145K purchase + $42K rehab to 94% capital recovery in 22 weeks
Jordan Hale (Denver) targets small multifamily for faster equity and cash flow per dollar of management overhead. Using the BRRRR calculator, Rehab Estimator, and Deal Analyzer together, she acquires a tired duplex, runs a coordinated two-unit rehab through a single contractor, leases both sides in under three weeks, and pulls 94% of capital back via DSCR refi — 22 weeks start to finish.
Property snapshot
Near-Eastside duplex
- Address
- 3127 E 10th Street, Indianapolis, IN 46201 (illustrative)
- Market
- Indianapolis, IN — Near Eastside submarket
- Property
- Duplex, 2 x 2 bed / 1 bath units, 1,680 sq ft total, built 1928
- Strategy
- BRRRR on small multifamily — buy, full rehab both units, rent, refinance, repeat
Purchase
$145,000
Rehab budget
$42,000
ARV
$225,000
Combined rent
$2,100/mo
DSCR (refi)
1.31
Cash left in deal
$14,200
Treat the duplex as two deals under one roof
Jordan filters Marketplace for Indianapolis duplexes under $160K with potential combined rents above $1,900. The Near-Eastside property matches. She imports the listing, then models unit-by-unit in the BRRRR calculator (each side treated as 2/1 at $1,050 target rent) plus a combined pro forma.
Rehab Estimator produces a single scope for both units: new kitchens, baths, LVP, HVAC, electrical panel, roof coating — $42K total with 15% contingency. Conservative ARV $225K (supported by recent duplex comps from heatmaps) gives the required 65% purchase-to-ARV buffer for BRRRR.
Negotiated purchase
$145,000
Rehab + contingency
$48,300
Projected ARV
$225,000
Combined rent target
$2,100
One contractor, two units, remote oversight
Jordan assembles her Indianapolis squad via the Network: agent who specializes in investor duplexes, DSCR lender familiar with small multifamily, and contractor with three prior duplex rehabs in the neighborhood. All added to the shared pipeline.
Rehab runs 13 weeks. Weekly photo drops + milestone draws keep everything visible. One surprise ( knob-and-tube wiring in one unit) is handled via logged change order and reflected live in the BRRRR model. Both units lease within 19 days of CO at full projected rents.
Rehab actual
$46,800
Lease-up (both units)
19 days
Combined rent achieved
$2,100
Recover capital and preload the next acquisition
Appraisal hits $223K. DSCR lender closes 30-year cash-out at 73% LTV for $162,800. After bridge payoff and costs, Jordan recovers $203,100 of her $217,300 total invested — $14,200 left in the deal. Post-refi combined cash flow: $265/mo after all expenses and reserves.
The realized duplex numbers (actual rehab line items, lease-up speed, true operating expenses) are automatically available in her Saved Scenarios for the next Indianapolis acquisition.
Final appraised value
$223,000
Refi proceeds
$162,800
Capital recovered
94%
Post-refi monthly CF
$265
Timeline
22 weeks
Outcome
One roof, two cash-flowing units, capital almost fully recycled
Jordan now has a proven Indianapolis operator and repeatable BRRRR template for small multifamily. The entire deal — from first Marketplace filter through final refi statement — is one auditable record inside PocketSquad.
Next target: another duplex in the same submarket, starting from this deal’s actual performance data rather than estimates.
Total project cost
$217,300
Stabilized value
$223,000
Equity created
$77,800
Capital recovered at refi
94%
Combined monthly CF
$265
Next step
Run your own duplex or multifamily BRRRR
The BRRRR calculator supports unit-by-unit or combined modeling — drop the Indianapolis numbers or your own market to test scale.
Open the BRRRR calculatorNext step
Browse Indianapolis investor deals
Filter the Marketplace for duplexes and small multifamily using the same criteria Jordan used.
Open MarketplaceNext step
Join PocketSquad
Save multi-unit scenarios, coordinate rehabs across units, and keep every refi and rent roll in one ledger.
Create an accountThis case study uses a fictional buyer and a representative Charlotte address for illustration. Numbers are rounded to be mathematically consistent and reflect rules-of-thumb investors use to underwrite BRRRR deals — they are not a guarantee of outcome for any specific property.