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TENANT OCCUPIED, DRIVE BY ONLY FOR NOW AND CALL TO RSVP FOR SHOWING.
Great 2/2, 1290 SF, block house in Orange City. You’ve got a few options with this one:
- Put $35k into the renovation and sell for $170k-$175k
- Keep the existing tenants at $800/month or raise their rents a bit (were expecting an increase next month)
- Make some minimal repairs for higher-paying tenants. Current tenants are on a month to month lease.
Breezewood, No HOA
Assignable
Est. Rehab: $35,000
Flip Renovation Breakdown:
Kitchen: $8k
Bathrooms: $4k
Floor and Paint: $6k
Windows and Doors: $3k
A/C: $3k
Roof: $7k
Landscaping: $2k
Misc: $2k
Est. ARV: $175,000
Recent Area Sales / Activity:
– The comps below are not fully renovated so that is why we are expecting an ARV in the $170k-175k range.
- 725 Amhurst Dr was only a 2/1.5, 1056 SF, and sold for $146k on 11/17. This house is 200 sq ft smaller and not updated. Just updating it will bring the value up to about $166k, and ours is bigger.
- 765 Crestview: 2/2, 1557 SF, not updated at all, had older kitchen, carpet throughout and wallpaper on most walls, sold in 3 days for $150k. We feel that this one renovated should have easily gotten in the uppper $180’s, if not more.
- 740 Biscayne Dr: 2/2, 1272 SF, and is a pool home, but is very basic and not updated. The enclosure for the pool is very old looking, there is carpet through most of the house, the kitchen is outdated and the windows are old. This home sold for $165,900. We think it should have been able to get in the $185k-$190k range if it was updated. With a minus of $15k for the pool, that would bring our subject to $170k-175k
- Address: Crestview Drive, Orange City, Florida 32763
- Price: $105,000
- Availability: Sold
- Listing Type: Single Family
- Bedrooms: 2
- Bathrooms: 2
- Total Square Feet: 1290
- Construction Type: Block
- Year Built: 1973