Winter Park Property for Cash-Flow or New Construction S Denning Dr. Winter Park, FL. 32789
Here is the perfect opportunity for any investor looking to do new builds. It is a 100 x 75 ft corner lot with a 900 SQFT block home on it. So the only rehab you will need to do is demo the existing property which should run about $7,500.
Estimated new build costs are between $100-$110/SQFT. Based on the other sold new builds the recommended square footage should be around 3,000 SQFT. These properties have sold for 1.2 million and 1.3 million. The attached comps also show you are getting this considerably cheaper than any other sold or currently active property in the area.
This property is also zoned R-2 which would make it possible to build 2 townhouses or add on to this property and make a duplex. Newly built 2/3 1500 SQFT townhouses are renting between $1,750 – $2,200/month. Thats within 1/2 mile but off of Pennsylvania. There are some more modest duplexes between 625-900 SQFT renting in the $850-$1100/month range.