CHEAP and Expandable House in Ocoee! 1003 Jamela Drive

  • House
    1051 ft2
    bedroom 2 Bedrooms
    bathroom 1 Baths
  • Flip/Rental
    $119,900
    Status : Available
    Year Built : 1959
 Description
1003 Jamela Drive
Ocoee, FL 34761

Bedroom: 2(Easily Convert back to 3 Bed)
Bath: 1
Ext Const: Block
Parking: N/A
Built: 1959
Sqft: 1,051
Ppsf: 114.08
Tax/Yr: 545.00
Septic/Sewer: Septic
HOA: N/A
County: Orange 
Avg Rent = 1300/Mo
Gross Rent ROI = 10% 


ARV: $189,900
Price: $119,900 cash or hard $ + all closing costs

Property Overview:  This home has been well kept by the previous tenant for 9 years. It is in need of updating throughout to include putting the walls back up for the 3rd bedroom. But, with Recent sales that show properties selling for 170+ psqft and rentals in the area going for 1300+/mo. makes this property a No Brainer. 
 
Property Features include; Location, Block, newer HWH, nice lot
 
Flip Rehab: 25-30k 
Roof, Interior and exterior painting, kitchen and bath updates, a/c system and ducts, flooring, minor cosmetics, yard cleanup. Panel box has been updated but the home has not been rewired. 

Rent Rehab: 15k-20k
Interior and exterior painting, kitchen and bath updates, new flooring, minor cosmetics, yard cleanup. Could use a new roof eventually but currently no signs of leaks or damage. Panel box has been updated but the home has not been rewired. Currently has 3 wall units.
 Rehab Work Needed
  • Bathroom
  • Kitchen
  • Paint Exterior
  • Paint Interior
  • Roof
 General Amenities
 Distance

 Summary

Overview
CHEAP and Expandable House in Ocoee! 1003 Jamela Drive Flip/Rental
$119,900
Property ID: FL19118295
Address: Login to View
City: Ocoee
State/Province: FL
Zip Code: 34761
Country: USA


Rental Analysis

+ Purchase Price: $119,900
+ Purchase Closing Cost: $3,597
+ Rehab Cost: $0
Total Acquisition Cost: $123,497


Monthly Rent: $0
+ Annual Potential Rent: $0
- Vacancy (3%): $0
Annual Gross Income: $0
Annual Gross ROI: 0%


Flip Analysis

+ Purchase Price: $119,900
+ Purchase Closing Cost: $3,597
+ Rehab Cost: $25,000
Total Acquisition Cost: $148,497


+ Selling closing cost: $5,697
+ Agent Commision : $5,697
Total Holding Cost: $11,394


Total Flip Cost: $159,891
Projected ARV: $189,900
Net Income (Profit): $30,009
CAP Rate: 18.77%

 Message

3 + 5 = ?