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Huge Potential on a Winter Park Teardown / New Construction Lot. The lot is 55 x 98 which would support roughly a 2200 SQFT house.
Currently the cost of a new construction is between $110-$120/SF, and there is already a quote on the table for $8,700 to do the demo. New construction comps in this neighborhood are going for about $325/SF, which would put the value of your new construction around $715,000.
Using the average construction cost of $115/SF, plus the cost of demo and purchasing the lot, you are looking at a 70% ARLTV!
Carver Town, No HOA
Assignable
Est. Rehab: $251,000 – $273,000
Est. ARV: $715,000
Recent Area Sales / Activity:
- 755 W Canton Ave – 3/2.5, 1745 SF – Pending for $629.9K
- 691 W Swoope Ave – 3/2.5, 2418 SF – Pending for $635K
- 765 W Canton Ave – 3/3.5, 2415 SF – Sold 6/22/18 for $780K
- 795 W Canton Ave – 3/3.5, 2327 SF – Sold 3/21/18 for $765K
- 947 N Kentucky Ave – 3/2.5, 2860 SF – Sold 9/5/18 for $1.2M
- Address: English Court, Winter Park, Florida 32789
- Price: $230,000
- Availability: Sold
- Listing Type: Buildable Lot
- Total Square Feet: 55 x 98