Orlando Flip in Mills-50 District N Forest Ave. Orlando, FL. 32803
Property Detail
Property Description
This house is the cheapest active within 1/4 mile by almost 200k and the cheapest sale or pending within the same distance, in the last year by over 60k. This is even taking into account that the house sits on a busier road. You have multiple options. This house is a 2/1 856 SQFT single family home with a total area of 1256 SQFT. You have 2 comps, on Bumby and Virginia that are similar in size and bed/bath count, not rehabbed, that sold in the 240k range. You could do the minimum needed to this house to get that.
Also, the house has a screened open area under the roof that could be enclosed pretty easy to make extra sqft. It has a 1 car garage that could also be used as additional square footage. You sit on a corner lot, so I would recommend using the other side of the house to build a driveway, so you are off of the main thoroughfare. Then, losing the garage will not be a big deal at all. This is going to be the most profitable way to go.
The house has updated electrical, and roof is good. Does not have an AC but would be easy to put one in. The bathroom, floors and kicthen all need updating. You need to fix the siding. I would just repair the holes and stucko to get the best look.
As previously mentioned, the way to maximize the value to this property is to enclose the porch and garage and build a carport on the side. This will make the property 1,256 SQFT. At this size the ARV is around $310k, if left at 856 SQFT its worth about $256k.
