Just within about 8 blocks of downtown Eustis alone since April 2020, we’ve closed three single family (a BRRRR, a light rehab buy and hold, and a large off market flip acquisition) as well as a 2-unit (3/2 house and 1/1 ADU) and just this month a 6-plex with four 2/1s and two 1/1s.

Like what's been said, there are good areas and bad areas, sometimes just a block over.

I put about 12k into this home.We sold house 1 and 2 at the same time (they sold for about the same, as the were only a few block apart, for mid 80s each) to buy and fix up house #3 without any funding!

To top it off I was able to get them down 22K in price so the actual price per sf is 184/sf...Compared to 229 and 249 for comps just 1 and 2 blocks away...

It's not going to block torrents or anything like that.

Real estate is still a block-by-block business and there are always deals to be found by sophisticated underwriters, but all of the apartment and industrial deals we're seeing are priced to perfection with little margin for error, whereas neighborhood retail is providing strong risk-adjusted yield in comparison.  

The house is not concrete block construction.

However I did note that my tax assessment is $10k - $15k greater than nearby (within a block) comps.

One building is cinder block walls and wood truss framing.

One such house down the block from me is subletting 4 people at $1,200 a month each, most do not want cars.