Quick Flip in Riverview

4/3 SFH, 2005 Build, 2023 Roof  Needs Cosmetic Rehab

Buy: $288,999
ARV: $470,000

Call or Text Us: 321-384-5006

Key Features:

• 🏠 4 beds, 3 bath  
• 💰 Low HOA fee: $52/mo  
• 🌬️ Heating & Cooling: Central  
• 🔌 Included: Dishwasher, Disposal, Electric Water Heater, Microwave, Range  
• 🧺 Laundry: In Kitchen, Laundry Closet  
• 🏗️ Foundation: Slab  
• 🏠 Roof: Shingle  
• 🚽 Sewer: Public Sewer  
• 🚰 Water: Public  
• 🔌 Utilities for property: Cable Available, Public

Click Here For Pictures

Property Details

Located in a prime area in Riverview, this single family home consists of 3 bedrooms and 3 bathrooms. It is situated close to restaurants, shopping, and a hospital, with easy access to I-75 for convenient commuting. The kitchen is equipped with white cabinetry, granite countertops, and a tile backsplash. Additionally, there is a separate breakfast nook with a chandelier, as well as a laundry closet within the kitchen area.

The property has a low monthly HOA fee of $52. Minimum Lease Period: 8-12 Months

Pictures:

https://drive.google.com/drive/folders/19_dvg-g5kdBifXDd3w6hzLQh3RWaEIxm?usp=sharing

Comps:

12924 Lincoln Rd, Riverview, FL 33578
Sold on 05/01/24  $525,000

12939 Lincoln Rd, Riverview, FL 33578

Sold on 09/21/23 $$499,000

12908 Lincoln Rd, Riverview, FL 33578

Sold on 09/21/23 $447,000

Investor Analysis

This home presents an appealing investment opportunity, combining immediate rental income with significant potential for future appreciation. 

Pros:

1. Special Features: Screened lanai, Granite counters, Leaded glass entry door, Formal dining or study Separate laundry closet
2. Low HOA: This means fewer restrictions and lower monthly costs, offering greater flexibility for investors.
3. Multiple Access Points: The front bedroom with a separate bathroom off the hallway is perfect for accommodating in-laws or teenagers who need their own space.
4. Vacant Status: Renovations can start immediately, reducing holding costs and time to market.
5. Significant ARV: The $470,000 ARV presents a substantial potential profit margin.
   
   

Cons:

Minor Cosmetic Work: The property will need light cosmetic work to bring it to its full potential

Investment Strategies:

Given the significant potential for value appreciation, the ideal strategy for this property is a fix-and-flip approach:

1. Fix-and-Flip:

Renovation: Focus on modernizing key areas (kitchen, bathrooms) and improving curb appeal. 

Resale: List the property at $470,000 after renovations, targeting buyers seeking rural, spacious homes with Low HOA.

Conclusion: The property offers a substantial opportunity for investors, particularly those experienced in handling fixer-uppers. With a purchase price of $289,000 and a projected ARV of $470,000, there is significant profit potential. The large lot, multiple access points, and Low HOA add to the property's appeal.

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DISCLAIMER:

• All offers are Cash or Private Lender Only.
• Deposits for all properties are non-refundable.
• Properties are sold AS-IS with NO inspection period; Please inspect first.
• Buyer pays all closing costs for buyer and sellers.
• Rehab Estimate, Projected Rent, and ARV are ESTIMATES based upon the analysis and opinion of Citywide Investments, LLC, actual repair cost, rent, and/or ARV may vary. 
• Citywide Investments, LLC is not a licensed contractor or appraiser.
• Taxes, Insurance, and Closing Costs are estimates. Actual cost may vary.
• Seller has an equitable interest in this property and is advertising the sale of this contract as it is assignable.