Crestview Dr, Orange City, FL 32763

Beds: 2    Baths: 2    Sq.Ft: 1290

ARV: $175k    Repairs: $35k    Rent: $800/mo

$105,000+cc

Great 2/2 1290sf block house in Orange City. You’ve got a few options with this one: put $35k into the renovation and sell for $170k-$175k, keep the existing tenants at $800/month (were expecting an increase next month) or raise their rents a bit, or make some minimal repairs for higher-paying tenants. Tenants are on a month to month lease. The comps below are not fully renovated so that is why we are expecting  a ARV in the $170k-175k range. TENANT OCCUPIED, DRIVE BY ONLY FOR NOW AND CALL TO SET UP A SHOWING APPOINTMENT.

Sales Comps:

  • 725 Amhurst Dr was only a 2/1.5, 1056 sq ft and sold for $146k on 11/17. This house is 200 sq ft smaller and not updated. Just updating it will bring the value up to about $166k and ours is bigger.
  • 765 Crestview: 2/2, 1557sf, not updated at all, had older kitchen, carpet throughout and wallpaper on most walls, sold in 3 days for $150k.  We feel that this one renovated should have easily gotten in the uppper $180s if not more
  • 740 Biscayne Dr: 2/2, 1272 sf and was a pool home but was very basic and not updated. The enclosure for the pool is very old looking, there is carpet through most of the house, the kitchen is outdated and the windows are old.  This home sold for $165,900. We think it should of been able to get in the $185k-$190k range if it was updated.  With a minus fo $15k for the pool, that would bring our subject to $170k-175k

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