Fulton Duplex Conversion Project

Fulton Duplex Conversion

Fulton Street | 2019

COMPLETED PROJECT

Fulton marked a pivotal step in applying our Impact Opportunity (IO) mindset, intentionally reinvesting equity from our first home into a higher performing asset.

Purchased in 2019, the property was in poor condition and largely overlooked. While others saw deferred maintenance, we recognized the opportunity to rework the layout into a duplex. The oversized 60’ × 150’ double lot also offered long-term redevelopment potential.

After initial offers were declined, the sellers returned to us months later, allowing the property to be acquired below market value. We completed a full interior renovation, transforming the home into a one-bedroom and a separate three-bedroom apartment. Much of the renovation was completed through hands-on sweat equity, allowing us to stay closely involved in the transformation of the property.

The project also moved forward during the uncertainty of COVID, requiring adaptability and proactive planning to navigate supply, scheduling, and execution challenges.

Once fully rented, the property’s value increased significantly. A refinance returned our original investment, positioning the project for long-term cash flow and an infinite return moving forward.

Impact Opportunity Insight

Fulton demonstrated that financial returns are only part of the equation. The cash flow created through this project gave Alice the freedom to be more present with our family, an outcome we consider one of the most meaningful returns of all.

Next Step

Interested in unlocking similar value in your own home or investment? Learn how our Home to Asset (HAP) program and construction management approach help turn potential into long-term performance.

Cozy bedroom with bed, dresser, and personal items.
Cozy bedroom with a desk and computer setup along a beige wall.
Modern kitchen with white cabinets and stainless steel appliances.
A dimly lit, cluttered basement with exposed pipes and unfinished walls.
Cozy living room with leather sofa and wall-mounted TV.
Cozy indoor hot tub room with light blue walls and large windows.
Empty room with hardwood floor and window with sheer curtains.
Empty attic room with slanted ceiling and wooden doors.
A simple bedroom with a window, blue curtains, and a white closet.
Empty carpeted room with white closets and an open door.
Minimalist living room with white walls and dark wooden floor.
Minimalist living room with black furniture and neutral walls.
A cozy attic room with a recliner, covered couch, and small side table.
A small, white wooden house with a brown roof on a cloudy day.
A small house with a wooden porch and driveway on a sunny day.