🔨 Umatilla R4 Zoned, 1,200 SF, Mid-Renovation, $80K

Built in 1976, this 1,200 sq. ft. two-story single-family home sits on a 7,841 sq. ft. lot in the Big Tree Campsites subdivision of rural Umatilla, Marion County. 2 bed / 2 bath, stucco exterior, pier foundation, 1 fireplace, metal roof (confirmed under 10 years). Photos reveal the property is currently gutted and mid-renovation — walls stripped to studs, new electrical panel installed, plumbing rough-in visible, no kitchen or bathroom fixtures in place. The seller’s “good condition” representation is inaccurate. This is a project in process, not a move-in cottage. Marion County R4 zoning.

Repairs Needed (Estimated):

• Kitchen (full build from open walls): Cabinets, quartz or laminate counters, sink, faucet, appliances, backsplash, electrical finishes
• Bathrooms (2, full build from open walls): Vanity, toilet, tub/shower, tile, fixtures, flooring, door.
• Drywall + texture + paint (full house): Hang, mud, tape, texture, prime, paint walls and ceilings ~1,200 SF.
• Flooring (full house, LVP)
• Interior trim, doors, base, casing
• HVAC: Verify functional. 1976 build almost certainly needs full replacement.
• Electrical finish work: Panel already in (per photos). Budget finish outlets, switches, fixtures, devices, inspection.
• Plumbing finish: PEX rough-in visible. Finish fixtures, water heater, inspection, final connection.
• Exterior paint (stucco)
• Well inspection + pump test (rural, verify)
• 3/2 conversion (add wall + door + closet on 2nd story)
• Landscape clear + grade + sod front
• Permits (Marion County, mid-renovation inheritance): Verify existing permits are current/transferable.

House Assets:

• Site-built single family (not manufactured). Verified by Marion County property records (Property Type: Single Family Residential, Foundation: Piers, Exterior: Stucco). This is the single most important value differentiator in Big Tree Campsites where most inventory is MH.
• Metal roof under 10 years. Removes biggest cap-ex. 30 to 40 year remaining life.
• Block construction, stucco exterior. Preferred build type for SW/Central FL insurance and storm resistance.
• 2-story, 1,200 SF. Above average SF for this sub. Two-story layout supports 3/2 conversion upstairs.
• Fireplace. Cosmetic value add for rural retreat positioning.
• R4 zoning. Allows SFR, modular, MH, multi-family flexibility. No HOA, no deed restrictions.
• Pier foundation. Standard for era/region but verify condition (pier rot, termite damage common in 1976 builds).
• Central heat confirmed. Unknown condition, assume end-of-life at 50 years old.
• Renovation-in-progress. New electrical panel already installed. Rough plumbing visible. This is either an asset (partial work done, saving buyer time) or a liability (permits pulled? work to code? stopped mid-stream?).
• Flood Zone X (32784 generally; verify parcel-specific).
• Gateway to Ocala National Forest. Vacation/second-home demand driver.

🟣 Comparable Sales

1. 20595 SE Highway 42 | 3/2 | 1,770 SF | 1.17 acre | $355,000 Closed 5/28/2025 ($201/SF). 0.39 mi E. Fully remodeled concrete block, 1980 build, two homes on gated acreage. Premium ceiling comp but inferior condition match — subject is 1/3 the lot, will not reach this ARV. Useful as absolute max for fully renovated block construction in this corridor.
2. 20145 SE Highway 42 | 2/2 | 1,351 SF | 0.30 acre | $145,000 Closed 4/29/2025 ($107/SF). 0.14 mi SW. Concrete block, 1990 build, renovated condition, 9 DOM. Direct comp — similar bed/bath, larger SF, newer build, same bath count. Strongest single reference for subject’s ARV floor.
3. 20850 SE 156th Pl | 3/2 | 1,460 SF | 0.37 acre | $149,999 Active ($103/SF, 228 DOM). 0.64 mi E. Same street as subject, 1988 block, renovated per photos. Active 228 days = priced above market. Realistic closing at $130K to $140K. Strongest direct-street comp for what subject can actually sell for fully renovated.
4. 20621 SE Highway 42 | 2/1 | 1,218 SF | 0.37 acre | $140,000 Active ($115/SF, 101 DOM). 0.41 mi E. 1961 block, renovation-in-progress (new roof, new electrical, no fixtures). Near-twin condition match to subject — also mid-renovation, also 2BR, similar SF. This is a very direct comp for seller’s asking position. Confirms the sub-market tolerates $140K ask for gutted/in-progress product but requires renovation completion for buyer financing.
5. 20072 SE 155th Pl | 3/2 | 784 SF | 0.28 acre | $119,000 Closed 3/6/2026 ($152/SF). 0.16 mi NW. Manufactured home, 1986, renovated. Adjacent street. Useful to confirm renovated-MH ceiling at $119K. Subject site-built status commands premium over this.

🟡 ARV & Rental Analysis

Estimated ARV (mid rehab, 2/2 finished): $135,000 to $145,000 Estimated ARV (full rehab + 3/2 conversion): $145,000 to $160,000 +/-

Rental Comps (Umatilla 32784):

• Big Tree Campsites site-built 2-3BR | 1,100 to 1,400 SF | $1,200 to $1,500/mo (renovated)
• Umatilla median $309,990 retail, $177/SF market

Projected Rent (renovated 2/2 or 3/2): $1,300 to $1,500/mo +/-