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916 And 920 22nd Street Orlando, FL 32805 Assigned

  • $131,900
  • 4 beds
  • 2 baths
  • 1,522 sqft
Assigned

916 And 920 22nd Street Orlando, FL 32805

916 22nd Street: 3 Bedrooms, 1 Bathroom, 1,120 SF

920 22nd Street: 1 Bedroom, 1 Bathroom, 402 SF

Total SF: 1,522

PPSF: $84.03

Year Built: 1935

A/C: Window Units

Construction: Wood Siding

Come grab these two single family homes for a super low price! Both of these houses have metal roofs that were recoated this month for an additional 10 years of life. The electric panels were upgraded to General Electric brand. The larger house (916) has upgraded wiring and a nice, enclosed front porch. The smaller house (920) was partially upgraded several years ago and was rewired “where it counts” recently. Both houses have been well maintained and have plenty of life left. The lot size sits right at a quarter of an acre!

The tenants are month-to-month paying $1,050 and $750, respectively. Please do not disturb the tenants. Showings may be conducted by appointment only!

You have two options for this property. You can leave it as it is and only conduct general maintenance when needed or you can do a moderate renovation and flip it for a quick profit.

Buy-and-Hold Strategy:

Purchase price: $127,900

+ 2% Closing costs: $2,550

Total cost: $130,450

Rental Income:

916 22nd St: $1,050/month, $12,600/year

920 22nd St: $750/month, $9,000/year

Total Income: $1,800/month, $21,600/year

Expenses:

Taxes: +/-$1,100/year

Insurance: +/-$1,300/year

General Maintenance: +/-$1,500/year

Total Expenses: $3,900/year

Net Annual Income: $17,700

Net Cap Rate: 13.57%

Flip Strategy:

Install central air handler, condenser, and ductwork (916 only): $7,500
Install kitchen cabinets, countertop, and appliances (916 only): $7,500
Remove carpet and replace remaining flooring with tile or laminate in both houses: $7,000
Holding costs (4 months of taxes, insurance, & utilities): $1,200
15% Contractor’s fee/Safety credit: $3,500
Total Renovation Cost: $26,700

Purchase price: $127,900

+ 2% Closing costs: $2,550

+ Repair costs: $26,700

Total cost: $157,150

Sell Price: $185,000

-5% Commission: $9,250

-2% Closing costs: $3,700

Net sales price: $172,050

Net Profit: $14,900

Net ROI: 9.48%

Available on 12.03.2020

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.

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

Price:
$131,900
Address:
916 And 920 22nd Street
Orlando, Florida 32805
Square Feet:
1,522
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1935

Additional Features

916 And 920 22nd Street Orlando, FL 32805 916 22nd Street: 3 Bedrooms, 1 Bathroom, 1,120 SF 920 22nd Street: 1 Bedroom, 1 Bathroom, 402 SF Total SF: 1,522 Year Built: 1935 A/C: Window Units

Call (954) 280-5883 for more details

Property Location