Banchory Rd, Winter Park, FL 32792

Beds: 3    Baths: 2    Sq.Ft: See Write Up

ARV: $385k-$800k 

$285,000+cc

Flip this house in one of Central Florida’s most desirable areas, Winter Park Pines! House is in need of total renovations, but it’s the cheapest thing you’re going to find anywhere in this subdivision. You have a number of options here. The house’s carport was enclosed at some point, but it was not done that well.  There is also additional square footage that is not showing currently on the county. The total square footage as it sits is 2,258.  This would be one of the larger comparables but you would be without a garage. If you valued the property at $399,900, that would be well under any pp/sf sales in the entire neighborhood. Your hope would be that the price per square would compensate for the lack of garage. You could also convert it back into a garage and you would be looking at 1,638 sf. Your value would be around $375k with this option, until 2322 Smiley Closes and it will probably be closer to 399k as is. Either way, the house needs the following upgrades: kitchen & bath updates, paint, flooring throughout, new roof, some windows, and some work on the garage conversion. Lastly, there are plenty of new builds in the area.  You could always tear down and build new, putting you around $800k for 3,000 sf or so. Although this one needs a little love, you’re getting it cheap.  If you decide to list under $400k, this will be a steal for the area. Very little has sold this cheap in the wholesale, or retail price points for a long time.  Don’t miss out!

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