Downtown Orlando FLIP - $289,900

  • House
    1895 acre
    bedroom 3 Bedrooms
    bathroom 2 Baths
  • Flip
    $289,900
    Status : Sold
    Year Built : 1930
 Description
Property overview: 
Located on a beautiful cobblestone street in the heart of downtown Orlando, lies your next investment property, 
zoned Office/Store/Residential this historic Colonial TownHome presents a unique investment opportunity. This home can be restored to a beautiful single family residence, or be transformed into a chic store front or law office, situated on a stately 155x57ft lot, there is substantial room to build extra square footage to add more value or have plenty of parking space available for your new practice, being offered at $152sqft, this property is the 3rd cheapest single family home available in all of downtown (32803 and 32801), out of the 440 homes that sold in the last 12 months in 32801 and 32803, this home would be among the cheapest 4% of homes to sell based on price per square foot. The land alone is valued at a staggering 150k, which is approximately 30k more valuable than the comps used within a half mile radius, renovated single family homes selling up to $245sqft there is room for a nice flip. 

Property features include, oversized 57x155 worth 150k,  re-roof  in 2005, updated kitchen and baths, updated electric panel, brick paver driveway, original wood floors, wood deck in backyard.  
Stucco Frame

Flip rehab: 65-70K, a full rehab is recommended.

 
 Rehab Work Needed
  • Appliances
  • Balcony
  • Bathroom
  • Bedroom
  • Electricity
  • Floor
  • Kitchen
  • Light Fixtures
  • Living Room
  • Master Bedroom
  • Open Floor Plan
  • Paint Interior
  • Parking
  • Roof
  • Yard
 General Amenities
 Distance

 Summary

Overview
Downtown Orlando FLIP - $289,900 Sold
$289,900
Property ID: 5b8065cddab48
Address: Login to View
City: Orlando
State/Province: FL
Zip Code: 32803
Country: USA


Flip Analysis

+ Purchase Price: $289,900
+ Rehab Cost: $65,000
Total Acquisition Cost: $354,900


+ Selling closing cost: $8,998
+ Agent Commision : $22,495
+ Insurance (6 Months) : $2,000
+ Utilities (6 Months): $1,500
+ Miscellaneous Expenses: $1,000
Total Holding Cost: $35,993


Total Flip Cost: $390,893
Projected ARV: $449,900
Net Income (Profit): $59,007
CAP Rate: 15.1%

 Message

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