S. Ridgewood Ave., Deland, FL 32720

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This is 2/1 1050 SF flip in west Deland for only $59,900. The previous tenants were just evicted so it will need to be trashed out. The remaining is standard rehab including paint, floors, kitchen, bathroom, landscaping, siding, A/C, and roof. You should be able to get a house of this size done for $30k.

The majority of the comps in the immediate area are built in the past 5-10 years, so we had to go out a little bit further, but all are within a mile and the neighborhoods are the same. The comps show that a newly renovated house should go for about $110/SQFT putting the ARV @ $115k and an 80% ARLTV. If you want to cash-flow the property you should get between $950-$1,000 per month.

Lawrence Park, No HOA

Assignable

Est. Rehab: $30,000

Est. Monthly Rent: $950 – $1,000

Est. ARV: $115,000

Recent Area Sales / Activity:

• 1304 Stevens Ave – 1/1, 701 SF – Pending for $92.9k
• 166 S Sheridan Ave – 2/1, 855 SF – Pending for $129.9k
• 705 Gracie Ct – 2/1, 1350 SF – Pending for $145k
• 415 S Woodward Ave – 3/2, 1173 SF – Sold 6/15/18 for $121k
• 1330 Talton Ave – 3/1, 1188 SF – Sold 6/4/18 for $129.9k
• 1021 Stevens Ave – 2/1, 1024 SF – Sold 6/26/18 for $147k