Description
This solid 3-bedroom, 1-bathroom block home is located on W Highland Dr in Cocoa. Built in 1957, the property features 1,160 sq. ft. of living space and sits on an oversized 0.30-acre lot, which is significantly larger than many neighboring parcels. The home offers excellent potential as a fix-and-flip or a long-term rental, given the strong demand for 3-bedroom block homes in the area. Majors are all around 10 years old and bath was renovated 3 years ago.
🛠️ Rehab Scope (Estimated)
Cosmetic Update: Full interior refresh including new flooring, paint, and modern fixtures.
Kitchen & Bath: Modernize the kitchen and bathroom to compete with the 402 Edinburgh Dr comp ($239k sale).
Exterior: Pressure wash and paint.
🟣 Comparable Sales
402 Edinburgh Dr – 3/1 | 1,066 sf | Sold $239,900 ($225/sf) | 1958 Built | Top Comp (Slightly smaller, similar vintage)
1057 Olive St – 2/1 | 1,015 sf | Sold $219,000 ($216/sf) | 1951 Built | 2-Bed Comp (Sold for $219k despite having one less bedroom)
1060 Olive St – 3/1 | 1,117 sf | Pending $209,900 ($188/sf) | 1951 Built | Pending Sale
1049 Bellefonte Ave – 2/1 | 825 sf | Sold $168,500 ($204/sf) | 1951 Built | Smaller 2/1
💰 ARV & Rental Analysis
The most relevant comparable is 402 Edinburgh Dr, a 3/1 built in 1958 that sold for $239,900. The subject property is nearly 100 sq. ft. larger (1,160 sf vs 1,066 sf) and sits on a larger lot (0.30 acres). Additionally, the sale of 1057 Olive St for $219,000 as a 2/1 proves that even smaller homes in this area have strong value when renovated.
Estimated ARV: $230,000 – $240,000 +/-
Projected Rent: $1,600 – $1,750/mo +/-