Merritt Island

Newfound Harbor Dr, Merritt Island, FL 32952

Beds: 5    Baths: 5    SqFt: 5056

ARV: $1,150,000    Repairs: $150k-$160k

$749,900+cc 

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Here’s a rare, off-market flip opportunity on the Banana River in beautiful Merritt Island. There are many possibilities as the home sits on a large 1.14 acre lot in Newfound Harbor. This property has a bonus guest suite that does not appear on county records however it includes a kitchenette, bedroom, full bathroom and stunning water views. The property is concrete block and has 5 bedrooms, 5 bathrooms, and has a 6 car garage. It will need complete updating throughout along with possibly opening up the kitchen to create an open-concept feeling. Some fresh landscaping and pool updating will also go a long way in helping bring the value up. Don’t miss your opportunity to turn this large home into a waterfront paradise.

PENDING – Chub St., Merritt Island FL 32952

Bed: 3   Bath: 2    SqFt: 1408

ARV: $235k     Repairs: $35k

$155,000+cc  Assignable

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Merritt Island Flip in the beautiful subdivision of Surfside Estates within walking distance to the Banana River and just a few short minutes to the beaches at Jetty Park!  This is the least expensive house offered in the area and especially in Surfside Estates.  The least expensive active in this subdivision is $369,900 and the cheapest Pending is over 100K more than this.  This property would make an amazing flip for any savvy investor.  *Property is listed as a 4/2 on tax roll but only 3 bedrooms were counted. House will need a full rehab including kitchen, baths, painting and flooring.  The roof looks to be in good condition but should be inspected to be sure. The subdivision is very close to the water, plus there are no actives at all anywhere near this price.  The 4/2 pending for 264K (1430 Eddy) is not on the water and went pending in 6 days.  1435 Eal is also not waterfront and would be the most similar, sold for 230K (had to go out further than 6 months to get this one because it sold on 1/1/18).  All comps within 1 mile and sold this year.