1947 Built Block SFR 3/2 on Corner Lot in Lakeland

This 3-bedroom, 2-bathroom block-construction home sits on a 0.27-acre corner lot in Lakeland. Built in 1947, the property features 1,077 sq. ft. of living space. It was a long-term rental for 15 years, leaving it with deferred maintenance and no recent updates. The home currently has window A/C units and requires a new roof, but the electrical and plumbing reportedly have no known issues.

🛠️ Rehab Scope (Estimated)

• Roof Replacement
• HVAC Installation: Install a central A/C system to replace the existing window units and add value.
• Interior Overhaul: Full cosmetic gut including new kitchen cabinetry/stone counters, modernized bathrooms
• Exterior: Pressure wash the block exterior, refresh the landscaping on the corner lot, and inspect/service the septic system (unknown age).

🟣 Comparable Sales

1. 2535 Jungle St – 3/2 | 1,036 sf | Sold $255,000 ($246/sf) | 12/01/2025 | Condition: Fully Renovated (Modern finishes, open plan)
2. 2318 Golfview St – 3/2 | 1,036 sf | Sold $217,000 ($209/sf) | 12/23/2025 | Condition: Updated Retail (Granite, no carpet, 2yo roof)
3. 2409 E Magnolia St – 3/2 | 1,380 sf | Sold $245,000 ($178/sf) | 09/18/2025 | Condition: Renovated (Sold for $132k in Mar ’25 -> Flipped)
4. 2517 Golfview St – 3/2 | 1,214 sf | Sold $200,000 ($165/sf) | 09/19/2025 | Condition: Retail/Liveable (New roof/septic, dated interior)

💰 ARV Analysis

The market for renovated 3/2 homes in this area is strong, with top-tier renovations (like 2535 Jungle St) commanding $246/sf. The most direct comp for a “nice but standard” retail update is 2318 Golfview ($209/sf). Given the subject’s 1,077 sq. ft. size and corner lot potential:

Estimated ARV: $215,000 – $235,000 +/-

Projected Rent: $1,650 – $1,850/mo +/-