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4725 Sherman Street Coleman, FL 33521 Assigned

  • $293,900
  • 3 beds
  • 2 baths
  • 1,296 sqft
Assigned

4725 Sherman Street Coleman, FL 33521

Main House
Bedrooms: 3 | Bathrooms: 2
Square Feet: 1,296
PPSF: $223.68
Lot Size Square Feet: 38,915
Year Built: 1987
Construction: Frame/Siding
A/C: Central
Also Included:

Detached Storage with Two Separated Rooms with Bathrooms

30’x30′ Foam-Insulated, Double-gated Garage/Storage

15’x20′ Garage/Storage

Downstairs 15’x10′ Storage

Upstairs 15’x10′ Storage

Covered RV Parking

Here we have a property that is loaded with income potential! Let’s start with the SFH. It is in very sound structural condition and has a private pool, open layout, and a durable metal roof! The exterior can easily be fenced in for privacy. Upgrades can be done to the flooring, kitchen, and bathrooms to further enhance the rental income.

Outside, there is a massive, foam-insulated 30’x30′ double door garage/storage with electricity that can be rented as a storage for $250/month. The second garage storage unit also has electricity. It is approximately 18’x12′ and can easily be rented for $150/month. The third structure contains two separate rooms, each with their own bathroom. Each can probably be rented for $400/month. There is downstairs storage and separated upstairs storage that can be rented out for $100/month and $80/month, respectively. Lastly, there is covered RV parking that can be rented for $60/month.
Lease out the spaces to separate tenants or find a user who can occupy all of them! All of the buildings have metal roofs. The potential on this property is limitless! It’s conveniently located in between Florida’s Turnpike and I-75.

Here are some recommendations of what can be done to maximize income:

Replace the carpet throughout the main house: +/-$8,000
Replace the kitchen cabinets: +/-$3,500
Install Privacy Fence: +/-$2,000
Remove wallpaper and paint the entire interior: $3,000
Light bathrooms upgrades: $1,500
Total Cost: +/-$18,000

Financial Breakdown

+ 2% Closing Costs: $5,800

+ Renovation Cost: $18,000

Acquisition Cost: $313,700

Income:

SFH: $1,700/month

Two Rooms Each With Bathrooms: $800/month

30’x’30’ Storage: $250/month

18’x12′ Storage: $150/month

15’x10′ Downstairs Storage: $100/month

15’x’10’ Upstairs Storage: $80/month

RV Parking: $60/month

Total Income: $3,140/month

Expenses:

Taxes: $200/month

Insurance: $150/month

Storage Electrical: $50/month

Total Expenses: $400/month

Net Monthly Income: $2,740/month

Net Cap Rate: 10.48%

Available on 08.06.2021

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

Make An Offer On This Property

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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. Florida investor deals does not hold direct contract with the owner of this property

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 property at 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

Price:
$293,900
Address:
4725 Sherman Street
Coleman, Florida 33521
Square Feet:
1,296
Lot Size:
38,915 sqft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1987

Additional Features

4725 Sherman Street Coleman, FL 33521 Main House Bedrooms: 3 | Bathrooms: 2 Square Feet: 1,296 PPSF: $223.68 Lot Size Square Feet: 38,915 Year Built: 1987 Construction: Frame/Siding A/C: Central

Call (954) 280-5883 for more details

Property Location