Performing Cash-Flow in Lake County Pine St. Fruitland Park, FL. 34731
This Fruitland Park manufactured home is a solid cash-flow and has potential as a possible flip. The property is currently rented out at $600/month and the tenant would like to stay. As it sits and keeping the current tenant, after taxes and insurance you have a cash-flow with 10% ROI. The market rent for this property after renovations is about $1,000/month.
If the tenant leaves you will need to do full rehab. This will include siding, floors, AC, bathrooms and kitchen. It could also need roof work. There is a 480 SQFT detached garage that could be converted to an in-law suite for extra income or square footage towards a flip.
There are manufactured homes being flipped in this exact neighborhood. Some are newer and some have more acreage but its being done. At this price the risk is relatively low plus a 10% ROI is a solid return.