Wagonwheel Ct., Eustis, FL 32736

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Massive equity opportunity ! We know homes in this price range have to be extra special and this one is one of them. The comps are solid, the spread is big, and the rehab is straight forward.

No structural or roof work, and even things like modern bath tile, doors, toilets, baseboards, etc., are already done. There are 4 inch baseboards and crown molding on raised ceilings throughout. A/C’s look good and the pool ready to jump in. What is missing is the kitchen cabinets and the granite from the bathroom vanities that were stripped off. Otherwise, you need to replace the carpet in the bedrooms, inside paint, and general TLC. Just adding a kitchen and TLC throughout this house would get it back on the market very quickly.

The comps are from the Lakewood Ranches subdivision and all the houses are on about 5 acres. The most recent comp sold for 196 per SF in September of 2017 for 975,000 at 1364 less SF. The comp at the most similar square footage sold for 1,050,000 in January of 2016 at 165/sq ft. And since prices have only gone up since then, you may be able to get up to 1.2 million, depending on your upgrades.

5.2 Acres

Lakewood Ranches, No HOA

Est. Rehab: $100,000 – $150,000

Est. ARV: $1,100,000

Recent Area Sales / Activity:

• 24243 Deep Springs Loops – 4/3, 4124 SF – Sold 11/25/16 for $682K
• 35606 Green Forest Dr – 5/5.5, 4596 SF – Sold 7/22/16 for $745K
• 35603 Panther Ridge Rd – 5/4, 4963 SF – Sold 9/13/17 for $975K
• 35308 Pinegate Trl – 6/6, 6402 SF – Sold 1/27/16 for $1.05M