Elaine Dr., Auburndale, FL 33823

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This Polk County fixer upper will need a little love to get back to its former shape, and its blemishes will become your profits if done correctly.  The main house is a 3/2 with 1,606 sf and there is also a mother in law suite that is a 1/1 and 1,100 sf.

Basically, you are going to need a complete face-lift on this home.  The roof has been damaged with water intrusion and will need to be replace. The roof is currently a tile roof, but there are no HOA-type restrictions in the neighborhood, so I would replace with a tin roof.  This is a growing trend and will save a quantifiable amount of money.  The pool will need to be resurfaced as well.  You will need a complete cosmetic update including repairing the spots where the water came in.

As far as comping this house goes, we analyzed it by valuing the main house and the guest house separately.  We gave the main house $105/sf and we gave the guest house $65/sf, for a conglomerate of $88/sf, or $240,000.   That is well below the average in the area, but being one of the biggest sales, we have taken off considerably for that.  House could definitely be worth more, but I feel comfortable with this evaluation.

House is occupied so shown by appointment only.

Lena Vista, No HOA

Assignable

Est. Rehab: $55,000 – $65,000

Est. ARV: $240,000 – $250,000

Recent Area Sales / Activity:

• 122 Seville Rd – 3/1, 1116 SF – Sold 5/3/18 for $124.5k ($111.56 PSF)
• 108 Kim St – 3/2, 1042 SF – Sold 2/7/18 for $122k ($117.08 PSF)
• 108 Deen Blvd – 3/1.5, 1064 SF – Sold 4/30/18 for $125k ($117.48 PSF)
• 314 Granada Rd – 3/2, 1682 SF – Sold 7/18/17 for $147k ($87.40 PSF)
• 124 Colonial Dr – 3/1.5, 1440 SF – Sold 1/10/18 for $162.5k ($112.85 PSF)
• 102 Deen Blvd – 4/2.5, 2059 SF – Sold 2/26/18 for $229k ($111.22 PSF)