After-repair value (ARV)
The appraised market value of a property once its renovations are complete — the basis for a BRRRR refinance.
In plain terms
ARV is what the property is worth after the rehab, not what you paid. BRRRR lenders refinance at a percentage of ARV (commonly 70–80%), so a higher ARV means a larger refinance and more capital recycled. Overestimating ARV is the classic way a BRRRR deal fails to return the investor’s cash. See the BRRRR calculator.