Lakefront Flip in Maitland | EquityPro
90
19.35% Estimated ROI
$470,000 Investor Price
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Lakefront Flip in Maitland

4 bed / 3 bath3,427 sq ft Built in 1966Single Family
View Map Druid Hills
1426 Druid Road Maitland, FL 32751
90
Quality of Comparables
Low High
20/20
Level of Rehab
Heavy Light
13/20
Location of Neighborhood
Far Close
20/20
Quality of Floor Plan
Choppy Flowing
18/20
School Rating
F A
9/10
Placement in Neighborhood
Busy Calm
10/10
Property Details

Custom built 4 bedroom, 3 bathroom lakefront home in Maitland in need of your TLC. Appraised at $575,000 in December of 2014, this 3,427 square foot property built in 1966, features two kitchens, an open floor plan with a 29' x23' family room with wood burning fireplace. The spiral staircase leads to the upstairs 22’ x 14’ living room w/fireplace, eat-in kitchen, formal dining room, 14’ x 19’ master bedroom w/balcony that has a gorgeous lake view along with all the rooms facing the rear of this unique home. This property also has a two car garage plus workshop, a cobble stone patio on ground level of the rear of the home, and a large wooden deck off the upstairs living room overlooking the lake. With a fresh rehab, this property is sure to sell quickly. Both sold comps provided sold in 26 days and 9 days respectively. Please note, the estimated rehab costs and after repair value reflect removing 2nd kitchen and adding a 5th bedroom and 4th bathroom. Contact your EquityPro Advisor to go see this one right away. It is sure to go quick.

We recommend flip
Rental Income
$3,500 mo. / $42,000 yr.
Investor Price
$470,000
Closing Costs to Buy
$13,000
Rehab Projection
$2,000
Utilities
$500
Property Insurance
$2,000 / yr.
Estimated Taxes
$5,682 / yr.
Property Management
$4,200 / yr.
Maintenance
$500 / yr.
HOA Dues
$0 / yr.
$29,618
Projected Income
6.1%
Estimated APY
After Repair Value
$700,000
Investor Price
$470,000
Closing Costs to Buy
$13,000
Rehab Projection
$70,500
Utilities
$500
Closing Costs to Sell
$15,000
Listing Agent Commission
$17,500
$113,500
Total Projected Profit
19.35%
Estimated ROI

Comps

Listed
Pending
Sold
1300 Druid Isle Rd; Maitland, FL 32751 $553,000
4 bed / 3 bath 2,820 sq ft Sold 07/06/16
1309 Druid Isle Rd; Maitland, FL 32751 $495,000
4 bed / 3 bath 2,624 sq ft Sold 09/30/16
Flip Rehab Details
Grounds
Lawn/Mulch beds
$2,000.00
Standard Landscaping
Trash removal
Dumpster Rental / Trash Removal
Exterior
Exterior Paint
$2,000.00
Exterior Paint (Small Stucco Areas)
Interior
Interior paint
$5,000.00
Interior Paint
Carpet
$3,500.00
Install Carpeting in the Bedrooms
Tile flooring
$18,000.00
Install / Replace Tile Flooring in Living Areas
Other
$17,000.00
Renovate / Update Kitchen
Other
$8,000.00
Renovate / Update Bathrooms
Other
$10,000.00
Remove 2nd Kitchen - Add 5th Bedroom and 4th Bathroom
Kitchen appliances
$5,000.00
Install New Kitchen Appliances
Rent Rehab Details
Interior
Other
$2,000.00
Misc. Rehab Costs