Sanford Flip Plus 2 Additional Lots Sanford Ave, Sanford, FL 32771
Great opportunity in Sanford. The first investment opportunity is an under the market home. Tenants have just moved in paying 1150 a month on a yearlong lease and it must be honored until it is up, at which point you can extract the equity. The two adjacent lots next door are available for sale as well, so you could have 3 homes right next to each other. Build on the 2 lots while the collecting rent, sounds like a win win!
Plan on $95/sf for a standard build on the 2 lots. Each lot is roughly 5,000 sf, so I would plan on 1,250 sf homes, roughly. Hard to say what they can get on resale, but a brand new house of that size should fetch $170/sf minimum. You have one new build comp pending at 1310 Sanford Ave, Sanford, FL 32771.
You have over $170k in potential profit in this deal.