75K - Valued at 94K - ARV 160K+

  • House
    1214 acre
    bedroom 3 Bedrooms
    bathroom 3 Baths
  • Flip
    $75,000
    Status : Sold
    Year Built : 1925
 Description
Presenting an investor opportunity in Dixieland Historic District that is in need of extensive repairs. This is the cheapest home within half mile by a mile.  This handyman special has 2 beds 2 baths on main level and a guest quarters upstairs with another bed/bath combo.You can repair to flip or use as two separate rental streams.  Property does have some code violations, but nothing you wouldn’t fix regardless.  There will be no liens associated with the violations.   Comps show this house could be worth upwards of 200k, but we held back from going that far.
 Rehab Work Needed
  • Appliances
  • Bathroom
  • Bedroom
  • Floor
  • Kitchen
  • Light Fixtures
  • Living Room
  • Paint Exterior
  • Paint Interior
  • Yard
 General Amenities
 Distance
Comparables (Comps.)

Comparable #1

609 West Park Street, Lakeland, FL, USA, 33803

Sold : $139,900

Comparable #2

155 Lake Morton Drive, Lakeland, FL, USA, 33803

Sold : $282,000

Comparable #3

732 south rushing ave, Lakeland, FL, USA, 33803

Sold : $174,000

 Summary

Overview
75K - Valued at 94K - ARV 160K+ Sold
$75,000
Property ID: 5b7f6c9ebc3ea
Address: Login to View
City: Lakeland
State/Province: FL
Zip Code: 33803
Country: USA


Flip Analysis

+ Purchase Price: $75,000
+ Rehab Cost: $50,000
Total Acquisition Cost: $125,000


+ Selling closing cost: $3,200
+ Agent Commision : $9,600
+ Utilities (6 Months): $600
Total Holding Cost: $13,400


Total Flip Cost: $138,400
Projected ARV: $160,000
Net Income (Profit): $21,600
CAP Rate: 15.61%

 Message

6 - 3 = ?