High-Equity 3/2 in South Lakeland – Cosmetic Flip

This 3-bedroom, 2-bathroom single-family block home is located in the high-demand 33813 zip code of South Lakeland on a 0.25-acre lot. Built in 1973, the property features 1,652 sq ft of living area and a traditional ranch-style layout on a concrete slab. The home is located in Flood Zone X. The property is currently in “average/dated” condition, needing a straightforward cosmetic rehab. While the mechanicals history is not documented in public records, the Roof and AC are reported to be in good working condition. Similar renovated homes in the immediate 0.5-mile radius are consistently selling at $200+/sf, providing a nice equity spread for an investor at this entry price.

Repairs Needed (estimate)

• Interior Modernization: Removal of dated wallpaper and popcorn ceilings, followed by a full interior paint job and new LVP flooring throughout.
• Kitchen & Baths: The property needs a full retail-ready update to both bathrooms and the kitchen (new cabinets, quartz counters, and stainless appliances) to hit the upper-end comps.
• Mechanical Check: Since the Roof and AC are reported as “good,” budget for a professional 4-point inspection and minor servicing/cleaning to satisfy buyer financing.
• Curb Appeal: Full exterior paint and professional landscaping/pressure washing to take advantage of the 10,000+ sq ft lot.

🟣 Comparable Sales

1. 1703 Sterling Dr – 3/2 | 1,717 sf | Sold $350,000 ($204/sf) | 1971 Built | Condition: Closed/Renovated (Primary ARV anchor; demonstrates the local ceiling for updated product.)
2. 1303 Northglen Ln – 3/2 | 1,879 sf | Sold $385,000 ($205/sf) | 1973 Built | Condition: Closed/Renovated (Recent sale on the same street confirms the $200+/sf trend.)
3. 1327 Glenview Ln – 3/2 | 1,659 sf | Sold $320,000 ($193/sf) | 1973 Built | Condition: Closed/Average (Sets the “as-is” floor for a 1,600+ sf model in the neighborhood.)
4. 1528 Hallam Ct S – 3/2 | 1,899 sf | Pending $394,900 ($208/sf) | 1973 Built | Condition: Pending (4 Days) (Strongest indicator of current market momentum.)

💰 ARV & Rental Analysis

Renovated comps are consistently clearing $200/sf. With a standard high-end renovation, puts this property estimated arv in the mid-$300s. South Lakeland is one of the most stable rental markets in the county, with 3/2 homes in this square footage range commanding a premium due to the George Jenkins High School zone.

Estimated ARV: $340,000 – $360,000 +/-

Projected Rent: $2,100 – $2,300/mo +/-