This home consists of 4 bedrooms, 2 baths, a screened in-ground pool and 2,202 square feet of living space. Built in 1973, the home several updates, including a beautiful kitchen with newer cabinets and granite countertops. The kitchen has bar that extends into the second rear family area. The rear family area has a fireplace and vaulted ceilings as well as high-end lighting and ceiling fans. Other features of the home include updated bathrooms and a detached 1 1/2-car garage, as well as a very spacious office off of the master suite and living area that includes a custom granite desk as well as a wet bar with granite countertops and new cabinets. The home needs only cosmetic updates for rental purposes. I'd also suggest new flooring in several of the rooms as the tile floors are outdated. For investment purposes, this home is priced at ONLY $63/ SQ FT. Several recent sales comps in the East Lake Park community have sold between $89-94/ SQ FT. Based on a conservative $90/ SQ FT, the ARV of the home is $198k!! LOTS OF EQUITY HERE! The home will rent for $1500-1600/mo with flooring and cosmetic updates, leaving an investor with lots of equity and a solid CAP rate.
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