Home Hacks

You can make $110,000 flipping a house in Maryland—here are the 10 best states to turn a profit

When it comes to flipping a house, location matters: Your profit could depend a lot on what state you're in.

If you're west of the Mississippi River, for example, you may find it more difficult to make money, since properties tend to stay on the market longer. If you choose an East Coast state like Maryland or Pennsylvania, on the other hand, you may have a quicker turnaround and get more bang for your buck: The average profit you can make there is almost $110,000.

That's according to financial website GOBankingRates, which analyzed data from real-estate site Zillow and property-data warehouse ATTOM, to find the top 10 best — and worst — states for flipping a house.

The data evaluates median house listing price, the average number of days it takes to flip a house, average gross profit on flipping and average gross return on investment.

Based on those metrics, here are the top 10 best places to flip a house:

1. Tennessee

Average house listing price: $268,692
Average time to flip: 147 days
Average profit: $57,600
Average ROI: 132.7 percent

2. Pennsylvania

Average house listing price: $224,090
Average time to flip: 199 days
Average profit: $105,190
Average ROI: 162.4 percent

GOBankingRates: Best and Worst Places to Flip A Home

3. New Jersey

Average house listing price: $372,916
Average time to flip: 207 days
Average profit: $102,300
Average ROI: 141.6 percent

4. Louisiana

Average house listing price: $232,610
Average time to flip: 166 days
Average profit: $71,866
Average ROI: 104.2 percent

5. Colorado

Average house listing price: $538,477
Average time to flip: 176 days
Average profit: $74,300
Average ROI: 155.6 percent

6. Maryland

Average house listing price: $369,454
Average time to flip: 198 days
Average profit: $109,617
Average ROI: 109.6 percent

7. Virginia

Average house listing price: $341,015
Average time to flip: 184 days
Average profit: $91,783
Average ROI: 99.3 percent

8. Florida

Average house listing price: $406,803
Average time to flip: 151 days
Average profit: $59,917
Average ROI: 83 percent

9. Illinois

Average house listing price: $277,163
Average time to flip: 196 days
Average profit: $77,317
Average ROI: 110 percent

10. Kentucky

Average house listing price: $213,848
Average time to flip: 172 days
Average profit: $55,241
Average ROI: 107.8 percent

Lower listing prices for houses boost a state's ranking since you don't have to tie up as much capital in buying and renovating the property in order to flip it, the study notes. States with faster average flip times also rank higher because "the sooner you can get your money out of one flip, the sooner you can reinvest it in another house."

Among the top 10 states, the average flip time is 180 days, the study notes. Among the bottom 10, it takes 203 days, or over three weeks more per flip. Every day counts since "if you're borrowing the money to buy each house you flip, that's 23 more days of interest you have to pay on potentially a few hundred thousand dollars."

So, if you're looking to flip a house, it's best to do your research first. Knowing where to buy and sell can help you make the most of your investment.

Like this story? Like CNBC Make It on Facebook!

Don't miss: 5 US states where you need to make about $100,000 to afford 'the average home'

Video by Andrea Kramar