Lakefront Deltona home in hot market area - UNDER 100K!

[Foster Algier]

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

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Providence Blvd., Deltona, FL 32725

INVESTMENT: $97,000

ARV: $165,000 +/-

Rental Income: $1,000-1,295 +/- month

ARV Rehab: $25,000-35,000 +/-

3 Bedroom 1 Bath (4 bed/2 bath finished rehab)

1,596 SqFt

Built: 1970

Construction: Block

HOA: $0

Good opportunity for a lakefront flip in a very hot market. Homes in Deltona under $100K are getting harder and harder to find. The square footage on record does not include the addition of almost 500 SqFt from enclosing the carport and back porch. The records show a 3/1 with 1,104 SqFt but it is actually a 4/1 with 1,596 SqFt of living area under central air. The master bedroom and 2nd bath were started but not completed. Finish this addition to make this a 4/2 and this one could be a home run. It already has a new roof over the the entire 1,596 SqFt and is located in front of Twin Oak Lake, providing peaceful views from the living area. Also includes a large utility shed for extra storage.

The home is conveniently located near I-4 for easy access to shopping, restaurants, theme parks and beaches. Whether you rent it or flip it, the addition needs to be completed. You can choose not to add the second bathroom to save money and rent it as a 4/1 but to get the most out of a flip the 2nd bathroom is strongly suggested. There are plenty of comps showing over $100/SqFt so $160-170K is not out of the question with a nice rehab. There have been several rehabs completed in the area (with no garage) that were done nicely and sold for top dollar. All comps shown are within a 1 mile radius, most are within 1/2 mile.

Needs: Kitchen and bathroom updates for a flip, addition of 2nd bath, flooring throughout, repair the wood on exterior of the addition, ceiling repair, interior/exterior paint, appliances, landscaping.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services