Winter Park Flip or New Build Westchester Ave. Winter Park, FL. 32789
This is an off-market flip or new build opportunity in Winter Park.
You have few options with this deal. You can’t leave it as it is and the ARV would be 330k at the current square footage and rehab is going to be 50k when you start opening up walls. Its going to be tight but you could make it work.
You could also enclose the porch and make it into a master suite. You would lose the carport/garage opportunity but you should be able to sell for $450k to 460k.
Also, you can tear it down and build 3,000 SQFT. You don’t have any newer sales in there in the last 2 years that are new builds but you have 2 actives. My guess is 799k would sell and it costs about $120/SQFT to build.
360,000 + pp of 270k = 630k. 799k – 630k = 169k profit. 26% return but other weird expenses that may come up would come out of that. It’s got a chance.
It can’t be shown for a couple weeks so be sure to get your due diligence done so your ready when we show it.