**Possible Seller Financing Available on Lakefront Winter Garden Home on An Acre Lake Ingram Rd., Winter Garden FL 34787
Property Detail
Property Description
*Possible Seller Financing Available plus recently re-negotiated, now even more of an incredible deal! Nestled in the heart of Hamlin in Winter Garden and it’s surrounding developments, this Lakefront home sits on .9 Acre lot of land and has huge potential regardless of which way you choose to rehab it. Super quick close. One unit will be vacant at close. The other will need cash for keys, but is willing to move with some assistance.
The home originally sat on stilts (some Florida waterfront properties are built this way for obvious reasons), and eventually the bottom half was fully enclosed and turned into a separate dwelling. This was done with permits, per seller, and is accounted for on the county records. In our opinion, you have three options with this property. Firstly you can make this house whole by redoing the interior and combining the separate units as the home is still zoned as single family. You could also leave them as is and bring the property back to life while renting out short term as it is located less than 10 minutes from Disney or you can do the standard long term. Finally, you can tear it down and build something major. Regardless of your choice, with the extensive development nearby, and limited lakefront, the value will increase greatly with time.
As far as rehab goes you will need everything. New roof, new AC, new kitchen and baths, paint, flooring, landscaping, the works. We feel our estimate of $80k is more than enough cushion to get this one done with a complete rehab.
As far as comparables go, you have zero active, pendings or solds within a half mile for the last year. So, we have to get a little creative. If you go 2 miles, there are other some active and pendings on the Lake for up to and over a million. You have to go 3 years to find sales on this Lake. Prices have gone up everywhere since then, but if we assume prices stayed the same, and you average pp/sf, you would be valued right around 400k. Really, at this price for an acre on a Lake in this beautiful area is full of possibilities.
