Perfect FLIP in Lakeland FL

  • House
    1 acre
    bedroom 3 Bedrooms
    bathroom 2 Baths
  • Flip
    $149,000
    Status : Sold
    Year Built : 1925
 Description
  • Property Overview: The subject property is located in Polk County, just steps away from Lake Hollingsworth. We feel that it would make an excellent Flip because it is the 6th CHEAPEST, 3 Bedroom 2 Bath SFH in the entire Zip Code. This home can be purchased for 149,900, needs an estimated total of $45,000 in repairs as a Flip, so you would be all into the project for roughly $201,000. The Flip comps of renovated homes in the area, lead us to believe this property has a $255,000 After Repair Value. This means an investor can walk away with an estimated net profit of $30,000. Homes in this area are selling in less than a week once renovated with the proper finishes. Call or email your Stonebridge agent for more details.  This property is certain to sell quickly.
     
  • Roof needs to be replaced.
  • Needs a new AC unit & Air Handler.
  • Kitchen needs full renovations.
  • Both bathrooms needs updating.
  • The home features original hardwood Floors that can either be refinished or replaced.
  • Windows need to be replaced.
  • 6,778 Sqft Lot Size
  • SFR Zoning
     
Rent Rehab: Medium/heavy 45K
Paint, front porch has a bit of mold that needs to be treated, kitchen & baths need updating, Roof, Flooring can either be refinished or replaced, Central Air needs to be Added, misc cosmetics.
 Rehab Work Needed
  • Air Conditioning
  • Bedroom
  • Floor
  • Heater
  • Kitchen
  • Roof
 General Amenities
 Distance

 Summary

Overview
Perfect FLIP in Lakeland FL Sold
$149,000
Property ID: FL190166020
Address: Login to View
City: Lakeland
State/Province: FL
Zip Code: 33803
Country: USA


Flip Analysis

+ Purchase Price: $149,000
+ Purchase Closing Cost: $4,470
+ Rehab Cost: $45,000
Total Acquisition Cost: $198,470


+ Selling closing cost: $7,500
+ Agent Commision : $7,500
Total Holding Cost: $15,000


Total Flip Cost: $213,470
Projected ARV: $250,000
Net Income (Profit): $36,530
CAP Rate: 17.11%

 Message

5 X 2 = ?