CALLING ALL SEASONED REHABBERS LOOKING FOR PROFITABLE LAKE MARY FIXER UPPER!!! If you’re in the market for a great Fix & Flip investment property, take a look at this 4 bedroom, 3 bath single family home located in Crystal Lake Estates, a highly desirable community in Lake Mary, FL. The house features a lanai, screened enclosure, above average pool, fireplace, an expansive master suite and sits on .43 acres. This neighborhood is perfect for those families seeking a starter home with room to for an expanding family. This is a varied community, with homes representing a wide range of time periods and styles. In general, homes in Crystal Lake Estates sell for are about $378,000 – $565,000 and sit on half-acre lots with four bedrooms and three bathrooms.
“As-Is” Value = $300,000
“AFTER-REPAIR” VALUE = $437,000
Estimated Repairs = $72,000
DISCOUNT WHOLESALE PRICE =$273,500
Close By Date: March 13, 2020
Access: Call for Access Instructions
Recommended Repairs
This property needs a Full renovation which should take 60-90 days to complete. Renovations include a new roof, flooring throughout, Interior and Exterior paint, and windows. The master suite has a huge sitting area and his and her closets. Some mold remediation and new insulation are needed due to the bad roof. To get top dollar, of course the kitchen and bathrooms must be gutted and redone. Clean up the pool and landscaping and you’re done. Once completed, you should easily generate a nice profit. Renovated properties in this community are taking an average of 30 days to go under contract and are selling for $183 per Sq./Ft.
Recent Comparables
- 109 ESTATES CIR, LAKE MARY, FL – Not renovated but in good condition. Sold in 26 Days for $405K.
- 112 ESTATES CIR, LAKE MARY, FL – Not renovated but in good condition. Sold in 15 days for $480K.
- 108 ESTATES CIR, LAKE MARY, FL – Not renovated but in good condition. Sold in 67 days for $565K.
- 130 ESTATES CIR, LAKE MARY, FL – No pictures. 287 Sq. Ft. smaller.
- 114 ESTATES CIR, LAKE MARY, FL – 3 Bed/2 bath. 709 Sq. Ft. smaller, not renovated. Sold for $220 per Sq. Ft.
Terms
This property is available via our “Assignment Program”. We have entered into a purchase contract with the current owner to buy the property. We will sell our equitable interest in this contract to a third party via assignment for a fee. A local, reputable title company and/or attorney will be enlisted to handle the closing and transfer of title.”
All properties are sold for cash or hard money on a “First Come, First Served basis”. Buyers responsibility to do your own due diligence and verify all information. Prices are NET to seller with buyer paying all closing costs, including any Agent/Broker commissions. Opinions of value/rents are given as a courtesy and no guarantees are expressed or implied. A minimum of $3,000 deposit and fully executed assignment agreement required to secure the property. Our properties move fast so contact us quickly if you have an interest in purchasing this property.