Orlando Concrete Block 3/2, New Roof, No HOA, $189K

Built in 1962, this 852 sq. ft. (70 sf is a utility/washer/dryer room) concrete block home sits on a 7,631 sq. ft. corner lot in the Clearview Heights neighborhood of Orlando, just west of Hiawassee Rd. Currently configured as a 3 bed / 2 bath, the property features a very large, fully fenced backyard and is in functional cosmetic condition with fresh interior and exterior paint. The shingle roof was fully replaced in September 2025. The AC is in good working order but needs a professional cleaning. Immediate reahab needs include replacing the electrical panel and the water heater. No HOA. Flood Zone X.

House Assets:

• No HOA. Total freedom to rent annually, renovate, or flip without community restrictions.
• Flood Zone X. Minimal flood risk, which keeps insurance premiums down.
• New roof (2025). The shingle roof was just replaced in September 2025.
• Fresh paint. Painted inside and out, significantly reducing immediate cosmetic preparation costs for a rental/flip turn.
• Block construction.
• Layout. The 3 bed / 2 bath configuration maximizes rental yield and resale appeal.
• Lot size (7,631 SF). Corner lot with a very large, fully fenced-in backyard that is ideal for pets and families.

Repairs Needed (Estimated):

• Electrical: The electrical box is dated and must be replaced for insurance compliance.
• Plumbing: The water heater has reached end of life and requires replacement.
• HVAC: The AC is in good condition but needs a routine service and coil deep clean.
• Kitchen: Functional but dated. A full gut and replacement with shaker cabinets, quartz counters, and stainless appliances is needed to reach peak ARV.
• Bathrooms (2): Cosmetic refresh or full gut of vanities, surrounds, and fixtures.
• Flooring: Replace throughout to unify the 852 SF space with durable LVP.

🟣 Comparable Sales (Last 12 Months)

1. 7204 Peyton Pl | 2/1 | 782 SF | $231,000 Closed 6/13/2025 ($295/SF). Same street, same 1960s era. Fully remodeled with new kitchen, appliances, floors, bath, HVAC, water heater. Roof replaced 2021. Inferior bed and bath count to subject. Establishes the renovated baseline floor for a smaller footprint on this exact street.
2. 5325 Broken Pine Cir | 2/1 | 872 SF | $225,000 Closed 8/13/2025 ($258/SF). 0.4 mi east, built 1983. Well-maintained but older cosmetic condition. Has a pool, which inflates this price — a no-pool equivalent would likely trade closer to $190K to $200K. Inferior bed/bath count.
3. 5384 Falling Water Dr | 2/2 | 985 SF | $280,000 Closed 1/8/2026 ($284/SF). 0.21 mi southeast, built 1985, no pool, no HOA. Clean updated condition on a 0.33-acre lot. Similar 2-bath utility but inferior bed count and larger SF. Best no-pool comp for gauging renovated value in the immediate area.
4. 5614 Lunsford Dr | 3/2 | 1,087 SF | $280,000 Closed 12/25/2025 ($258/SF). 0.15 mi east, built 1965, block construction. Matches subject’s 3/2 configuration. Virtually staged, updated but not fully renovated. Sat 109 days. Larger footprint accounts for similar price on a lower $/SF basis.
5. 7008 Watseka Ave | 3/2 | 988 SF | $297,000 Closed 7/31/2025 ($301/SF). 0.41 mi east, built 1972. Renovated and virtually staged with a pool and attached garage. Strip the pool premium ($25K to $35K) and the no-pool equivalent is approximately $262,000 to $272,000 ($265 to $275/SF). Shows the top of the market for a turnkey 3/2 but pool premium must be discounted.
6. 7103 Peyton Pl | 3/2 | 1,620 SF | $369,900 Active Listing. Same street, nearly double the subject’s footprint. Establishes the absolute ceiling for Peyton Pl. Not a direct comp due to size difference but confirms buyer appetite for renovated 3/2 product on this street.

🟡 ARV & Rental Analysis

The same-street comp at 7204 Peyton Pl establishes $295/SF for a fully renovated 2/1. The subject’s 3/2 layout commands a premium of $25,000 to $40,000 over a 2/1 at this price tier, pushing the baseline to $256,000 to $271,000. The no-pool comps at 5384 Falling Water ($280K, 2/2, 985 SF, clean) and 5614 Lunsford ($280K, 3/2, 1,087 SF, updated) both hit $280K in non-renovated condition with larger footprints. A fully renovated 852 SF 3/2 should sell in the $260,000 to $275,000 range – above the updated-but-not-gutted comps but below the pool-inflated 7008 Watseka comp.

Estimated ARV (light cosmetic refresh): $240,000 to $250,000 +/-

Estimated ARV (full turnkey renovation): $260,000 to $275,000 +/-

Conservative underwriting ARV: $265,000 +/-

Rental Comps (Orlando 32818, 3 bed):

• 6317 Boylston Way | 3/2 | 1,264 SF | $2,145/mo
• 6561 Redwood Oaks Dr | 3/2 | 1,150 SF | $1,849/mo
• 6908 Ambassador Dr | 3/2 | 1,288 SF | $1,945/mo

All rental comps are 1,150+ SF. Subject at 852 SF will rent at the lower end of the 3/2 spectrum. A clean, updated 3/2 in 32818 averages $1,850 to $2,100/mo; subject’s compact footprint discounts that by 5 to 10%.

Projected Rent (annual, updated): $1,750 to $1,950/mo +/-