Tear Down & Build
ARV: $715k Repairs: $250k-$275k
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Huge Potential on a Winter Park Teardown/New Construction Lot. The lot is 55 x 98 which would support roughly a 2200 SQFT house. Currently the cost of a new construction are between $110-$120/SQFT and there is already a quote on the table for $8,700 to do the demo. New construction comps in this neighborhood are going for about $325/SQFT which would put the value of your new construction around $715,000. Using the average construction cost of $115/SQFT plus the cost of demo and purchasing the lot you are looking at a 70% ARLTV!