2154 Center Street, Sanford, Florida 32771

ARV: $180,000

BEDROOMS: 3

BATHROOMS: 2

TOTAL SF: 1,438

PPSF: $81.29

YEAR BUILT: 1990

A/C: CENTRAL

CONSTRUCTION: WOOD FRAME/SIDING

Where else can you get a quality 3/2 single family home for under $120,000!? Zach 2e Real Estate, that’s where! This one doesn’t need much and already has a tenant in place paying $1,100/month. Of this amount, the Orlando Housing Authority (OHA) section 8, pays $850/month via direct deposit. The tenant pays the rest ($250/month). OHA has approved this property for up to $1,400/month. Realistic rent is $1,200-$1,300/month based on the comps (attached). Tenant’s lease agreement of $1,100/month through 08/31/2021 must be honored upon purchase!

No need to worry about any a/c issues, plumbing, or electrical for years to come! The a/c unit was replaced in 2017, as was the plumbing (cpvc) and electrical (copper). Other upgrades include: kitchen cabinets, an upgraded bathroom, and a newer water heater! There is no carpet either, making it very easy to maintain. Worried about potential termites? Don’t bug out! Drake Termite and Pest Control has been servicing this property for more than three years.

Half of the roof was redone in 2016. However, the front portion will likely need further evaluation and potentially need to be replaced. The septic system is damaged and will need to be replaced as well.

Here is a breakdown of what it will need:

• Roof evaluation/Replacement: +/-$6,000
• Septic tank replacement: +/-$5,000As a flip, in addition to what is above, the following is optional, but recommended:
• Laminate flooring throughout: +/-$11,200
• Interior paint throughout: +/-$2,500
• Exterior paint throughout: +/-$2,500
• Stainless steel appliances: +/-$2,000
• Bathroom enhancements: +/-$2,000

Buy-and-Hold Financial Breakdown:

Purchase price: $116,900

+ Closing costs: $119,200

Rental income:

$1,200/month, $14,400/year

Expenses:

Taxes: $121/month, $1,458/year

Insurance: +/-$100/month, $1,200/year

Net Income:

$979/month, $11,748/year

Net Cap Rate: 10%

Flip Strategy:

Purchase price: $116,900

+ Closing costs: $119,200

+ Holding costs (4 months of taxes, utilities, and vacant property insurance): $1,400

+ Repairs costs: $31,200

Total Cost: $150,400

Sell Price: $180,000

-5%Commission: $9,000

-2% Closing costs: $3,600

Total Proceeds: $167,400

Net Profit: $17,000

ROI: 11.3%

Available on 12.02.2020

Don’t let this excellent opportunity pass you by! Get it yours now!

DISCLAIMER: Florida Investor Deals does not own these properties nor does Florida Investor Deals hold itself out to represent the owners of these properties. These are not Florida investor deals listings. Values are strictly an opinion. Consult an appraiser for true values. Florida investor deals disclaims all liability for the actions or inactions taken or not taken as a result of communications from or to its officers, directors, and members.

The sale of these properties may be contingent upon a successful close by the Buyer under Contract with the Current Owner. Seller may not be the owner of record of the applicable court jurisdiction; however, the Seller holds equitable interest in the property along with the owner of record and such interest is documented through an executed Purchase and Sale Agreement