Take a look at this Deland rental opportunity priced 30k below the tax assessed value of $173,000.

The home is conveniently located near Downtown Deland and I-4.  

The main structure is a block home that features 4 bedrooms, 2 full bathrooms at 1,548 sq ft, a spacious backyard, and an additional structure in the back that is a 1b/1b 384 sqft that would work perfectly as a mother-in-law suite. 

Whether you decide to flip the property or hold it as a rental, a full-blown rehab is needed to bring it to its full market potential. We've placed a conservative ARV of $230,000 based on price per sqft.

Rehabbed properties nearby properties have sold anywhere from $130 -$165/sqft. This property would work great as a rental being a cash cow generating around $1,800 a month between both structures. Volusia county properties tend to move quickly so please contact me asap!

We recommend rent

Rent Flip

Rental Income

$1,800 mo. / $21,600 yr.

Investor Price

$144,500

Closing Costs to Buy

$3,800

Rehab Projection

$37,500

Utilities

$300

Property Insurance

$1,000 / yr.

Estimated Taxes

$4,065 / yr.

Property Management

$2,160 / yr.

Maintenance

$300 / yr.

HOA Dues

$0 / yr.

$14,075

Comps

516 S BOUNDARY AVE, DELAND, FL 32720 $220,000

3 bed / 2.5 bath 1,615 sq ft Sold 12/03/20

790 S BOUNDARY AVE, DELAND, FL 32720 $205,000

3 bed / 2 bath 1,901 sq ft Sold 03/19/21

1788 OAKEY AVE, DELAND, FL 32720 $198,000

3 bed / 1.5 bath 1,456 sq ft Sold 07/23/20

508 S ELSASSER ST, DELAND, FL 32720 ***Leased Comp*** $1,375

3 bed / 2 bath 1,263 sq ft Sold 01/21/21

Flip Rehab Details

----------------

Grounds

Lawn/Mulch beds

$1,000.00

Interior

Interior paint

$2,500.00

Tile flooring

$4,500.00

Kitchen cabinets

$4,500.00

Kitchen countertops

$3,500.00

Kitchen appliances

$2,500.00

Bathroom countertops

$5,500.00

Closet/Interior doors

$2,000.00

Miscellaneous hardware

$1,000.00

Exterior

Roof

$9,000.00

Exterior Paint

$2,500.00

Windows / Screens

$2,500.00

Systems

Outside Air Condenser

$2,500.00

Inside Air Handler

$2,500.00

Other

$1,000.00

Rent Rehab Details

-------------------

Interior

Interior paint

$2,000.00

Tile flooring

$4,000.00

Kitchen cabinets

$3,500.00

Kitchen countertops

$3,000.00

Bathroom vanity

$5,000.00

Closet/Interior doors

$1,500.00

Miscellaneous hardware

$1,000.00

Exterior

Roof

$9,000.00

Roof

$2,500.00

Systems

Inside Air Handler

$2,500.00

Outside Air Condenser

$2,500.00