Both Mobile Homes are tenant occupied and include the land. Public water and Sewer. These homes aren’t pretty, but with $1100/mo rent, low taxes, and low insurance, the rental returns are fantastic! Another huge bonus is the location. These homes are right off N Winter Park Dr in Casselberry. They have been basically maintained by the current and did not have any current roof leaks or plumbing problems. The owner told us he maintains the property to the extent that something may cause long term damage. These places stay rented due to their low rates and their location and ease of access to plenty of employment opportunity. Carlisle Dr is rented for $600/m to a younger woman who has been there for around a year. 2bed/1bath. 63x100ft lot. Holliday Dr has a tenant who has been there 4 years with no plans to leave. He only pays $500/m and you could most likely raise it $50/m and still keep him. 2bed/1bath. 70x100ft lot. These are priced under market values for the neighborhood and the options are pretty endless with these cash cows.
Partially renovated condo in Oxford Square in Casselberry. This 2nd floor unit is a 2/2, 1126 sq ft and has updated bathrooms( just need the vanities painted), new ac, all the 14mm laminate flooring is there for the main areas as well as all the paint for the entire apt As a rental you need to install the flooring and paint, add appliances in the kitchen and carpet in the bedrooms. The rents in there are going between $1000-$1100 for similar units. For a flip you will do the same thing but also redo the kitchen. You are probably about $12k on a flip and less than $5k for a rental. The comps for a flip should be about $110k to $115k. You have had 2 sell for $90k in the last 6 months that are updated but not flips and 1 that is updated and is pending for $125,800 and was the nicest of the 3 units that have sold. I am estimating this one should sell for about $115k-$120k. If you air on the side of caution you can put the ARV at $115k. That puts this one at 78% of ARV. HOA is $235/mth
Manufactured Home in Casselberry! Property just needs a handyman’s touch to bring in the profit. This home already has new floors, paint, new appliances, new a/c. It just needs about $10k in cosmetic finishes. Property could also make a good cash flow with a rent of $895/mo. Contact me at 407-404-3225 or email me at Alex@VaultVentures.net
This affordable 3/2 home would make an easy flip or rental. The roof is about 8-9 years old and electrical seems good. The place needs new kitchen and bathrooms, plus some plumbing, new carpets, and cosmetic repairs. Contact me at 407-404-3225 or email me at Alex@VaultVentures.net