Greenbriar Ave, Ormond Beach , FL 32174

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Great Ormond Beach flip in the Tanglewood Forest neighborhood. This home needs a full rehab but has some great comps on it. It needs everything from a roof, windows, A/C (but has duct work), electrical panel upgrade, some plumbing upgrades, and the septic and drain field need to be replaced as well. There also is some past termite damage. The comps in this area put this house in the $250k range. Most of the comps are just clean and not fully rehabbed.

This neighborhood also has access to a private boat ramp that is included in the voluntary association for a small fee per month. I think it is $25.

Tanglewood Forest, Voluntary HOA

Est. Rehab Expenses:

Roof $9,000
AC $4,000
Paint $4,000
Flooring $7,000
Kitchen $9,000
Baths $5,000
Electrical $2,000
Plumbing $2,000
Septic $6,000
Termite $1,000
Windows $3,000
Soffit/Fascia $2,000
Drywall $2000
Landscaping $1000
Misc $3,000

Total Est. Rehab-$60,000

Est. ARV: $250,000

Recent Area Sales / Comps:

• 320 Tulip Tree Lane – 4/2, 1470 SF – just clean with minor updates and is listed for $259,000 in under 2 weeks on the market.
• 337 Tulip Tree Land –  3/2, 1332 SF – a fixer upper and sold for $160,000. I believe this one is being rehabbed right now.
• 320 Sylvan Dr – 4/2, 1378 SF – Sold as-is with a very minor lipstick job and sold for $168,500.