Apopka Flip or Cash Flow for 81k Martin Place Blvd., Apopka FL 32712
Property Detail
Property Description
Take a look at this fixer upper priced to sell. The home needs some work, but you will be right in the sweet spot when finished, to rent or to sell. We have a non-for-profit with a tenant looking for a 2 bedroom house, ready to pay $1,195/mo. For a flip, s150k should easily be attainable.
The house will need a roof. At $310/square, you should be at or under 5k. You will want to stucco the outside $2,500, paint in and out, $4,000, kitchen $6,000 (it’s small), bath $2k or less, flooring $3,000, and some windows $3,000. Add another $3,000 if you want to add a second bath where laundry area is and another $3,000 for incidentals, you are looking at a max rehab of $32k or so. If you don’t add the bath, you will be looking at $29k max.
As for comps, 564 Martin is a 2/1 with 768 sf (says pool but it’s an overground pool) sold for 134k in 14 days. It is not rehabbed. 556 Sparrow is a 2/2 with 864 sf, rehabbed and sold for 155k in 5 days. Finally you have 630 Swallow is a 3/2 with 975 sf, rehabbed, and sold for 195k, but it took 66 days to get that price.
