Leesburg Cash-Flow with Equity

  • $172,500
Nebraska Ave, Leesburg, FL 34748, USA

Overview

  • Single Family Home
  • Property Type
  • 2
  • Bedrooms
  • 1.5
  • Bathrooms
  • 1,040
  • Sq ft
  • $205,000+/-
  • ARV

Description

Located in one of the booming markets of Central Florida is this Lake County 2/1.5 concrete block home. Off of 441 and near Main street, this property can be a great buy-and-hold opportunity with equity. The comps in the area are bringing a value of about 205k with pending properties that could possibly raise your value 10k-30k after their closing. In addition, market rental rates are upwards of 1,200/month for similar size homes and are constantly increasing. With the current rental market demand in Central Florida you may be able to get more.

Its current condition will require some cosmetic updating to achieve the desired market rent. Such updates include flooring, interior paint, and light bathroom remodeling. Also, the central HVAC is in working condition but will need to be serviced on a regular basis. In this current market it is really tough to search for rental properties with equity so don’t miss out on this opportunity.

 

COMPS:

206 N LAKE AVE, LEESBURG, FL 34748 – Pending @ $235,000

2 bed / 1 bath | 1,030 sq ft

300 N LAKE AVE, LEESBURG, FL 34748 – Pending @ $215,000

3 bed / 2 bath | 1,088 sq ft

RENTAL COMP:

226 S EAST ST, LEESBURG, FL 34748  – Rented for $1,200 on 04/26/2022

2 bed / 1 bath | 864 sq ft

 

  • Address Nebraska Ave.
  • City Leesburg
  • State Florida
  • Zip/Postal Code 34748
  • Subdivision Mount Vernon

Details

  • Price: $172,500
  • Property Size (Sq. ft.): 1,040 Sq ft
  • Land Area (Acres): 0.1906 Sq ft
  • Bedrooms: 2
  • Bathrooms: 1.5
  • Year Built: 1986
  • Property Type: Single Family Home
  • Property Status: Cash Flow
  • ARV: $205,000+/-
  • Rent/mo: $1,200+
  • Rehab: Light - Moderate
  • Taxes/yr: $1,252
  • Construction: Block
  • County: Lake

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