Condo Flip Profit Calculator: Know Your Real Numbers Before You Buy

Target a minimum 15-20% gross profit margin on the total all-in cost. Below 10%, one cost overrun or a slow sale wipes out your profit entirely. For Kelowna condos, this means you need at least $60,000-$80,000 of spread between your all-in cost and the realistic sale price on a $400,000-$500,000 flip. Also consider your annualized return: 15% over 4 months is excellent, but 15% over 12 months may not justify the risk and effort.

In Kelowna, holding costs for a typical condo run $2,500-$4,000 per month. This includes mortgage payments ($2,000-$3,000/month on a $400K condo with 20% down), strata fees ($250-$500/month), property insurance ($50-$100/month), utilities ($100-$200/month), and prorated property tax ($100-$200/month). At 6 months, that is $15,000-$24,000 in holding costs alone. This is where most beginners get blindsided. They budget for the purchase and renovation but forget about the 6 months of carrying costs.

According to CMHC data, the national median gross profit on a flipped condo in Canada is approximately $115,000 with a 16.3% return. However, this is gross profit before holding costs, selling fees, and taxes. Net profit after all expenses is much lower. Often 30-50% less than the gross figure. In Kelowna's 2026 market, realistic net profits on a well-executed cosmetic condo flip range from $10,000-$30,000 for a typical $350K-$500K property after accounting for BC flipping tax and CRA business income tax.