Reduced-2 Homes in Lake Mary

Reduced-2 Homes in Lake Mary

3 bed 2 bath 1450 sq ft Built in 1940 Single Family
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74
Occupancy Status
Low High
10 /20
Level of Rehab
Heavy Light
10/20
Location of Neighborhood
Far Close
19/20
Quality of Floor Plan
Choppy Flowing
17/20
School Rating
F A
9/10
Placement in Neighborhood
Busy Calm
9/10
Property Details

Truly a Rare Find! We are excited to showcase this exceptional opportunity that features two structures on a large double lot. This is an excellent location and an affluent-suburban city.

The beginning highlight is the Lake Mary school district itself, as it's a major attraction for families looking for the best education. Also, it's the most desirable city in all of Seminole County with medical and financial districts close by. In addition, there are new construction homes being built where previous ones once stood, and for good reason, the location beacons these types of developers. These are the reasons why any available and active properties go pending within days.

This is also a gem of a lot with a large 126 ft. X 125 ft. dimension. There are currently two structures on this vast corner. The first is a three-bedroom, two-bathroom home, and the other is a small concrete block one-bedroom, one-bathroom Mother-In-Law Suite. In addition, you will find that this particular parcel is located in an established neighborhood and the homes here are on larger lots and not encroaching on each other, like the newly built communities in proximity. Also, there's no HOA, which is highly favorable for the visionaries, and for any holding costs that may occur. Furthermore, you'll be able to avoid the expensive impact fees, as there are existing dwellings in place. 

**The buyer will have to work with the City of Lake Mary and the zoning department to either potentially subdivide the lots and be able to keep both structures.**

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We recommend rent
Rental Income
$2,500 mo. / $30,000 yr.
Estimated Taxes
$2,000 / yr.
Maintenance
$500 / yr.
HOA Dues
$0 / yr.
$23,500
Projected Income
8.39%
Estimated APY
$81,500
Projected Income
11.67%
Estimated ROI

Comps

 
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