Property Description:
This 2,760 sq ft 3-bed, 2-bath mobile/manufactured home sits on a 3.11-acre lot in Orlando’s rural east side near Wedgefield. Built in 1981, the existing mobile home is located in the center of the parcel and is ready for tear-down. The property offers a strong redevelopment opportunity to split into two buildable lots and place newer manufactured homes for resale or rental investment.
🛠️ Redevelopment Project – Tear Down, Lot Split, and Two New Homes
The project will require full demolition and removal of the existing mobile home, subdivision survey and county approvals to split into two parcels, and installation of two new mobile/manufactured homes with utility connections and site prep.
🟢 Cost Breakdown (estimate for 1,750 sq ft double-wide homes)
· Demolition & removal of existing mobile home: ~$6,000
· Survey, subdivision, county fees: ~$6,000–$10,000
· New manufactured homes (each ~1,750 sq ft double-wide):
· Home purchase & delivery: $110,000 – $125,000
· Setup, tie-downs, skirting, stairs: $10,000 – $12,000
· Utility connections (water/septic/electric): $12,000 – $20,000
→ Total per home installed: ~$132,000 – $157,000
✅ Estimated Total Project Cost
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Land acquisition: $199,000
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Demo & lot split: $16,000 (combined mid-range estimate)
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Two new 1,750 sq ft homes with setup: ~$290,000 (using mid-point per home cost)
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→ Total all-in: ~$505,000
🔴 Recently Sold
· 360 Alison Daphne Cir – 1,344 sq ft, 3/2, built 1982 → Sold $263,000 ($196/sq ft) – updated
· 78 N 5th St – 732 sq ft, 3/2, built 1974 → Sold $285,000 ($389/sq ft) – very high $/sf updated
· 18451 14th Ave – 1,792 sq ft, 2/2, built 1979 → Sold $324,900 ($181/sq ft) – updated
· 418 Carpenter Rd – 1,044 sq ft, 2/1, built 1972 → Sold $120,000 ($115/sq ft) – smaller, older
🟠 Pending / Active
· 526 Shepard Rd (Pending) – 744 sq ft, 2/2, built 1976 → Pending $180,000 ($242/sq ft) – small
· 18633 14th Ave – 1,010 sq ft, 2/1, built 1971 → Active $210,000 ($208/sq ft)
✅ ARV Conclusion
Based on these comps, each new 1,750 sq ft home would likely sell for:
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Low-end ARV: ~$300,000 ($171/sq ft – based on 18451 14th Ave)
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Likely ARV: ~$315,000 – $340,000 ($180 – $195/sq ft, in line with recent updated sales)
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High-end ARV: ~$350,000+ (if installed with premium finishes, upgraded porches, and landscaping)
At a total project cost of ~$505,000, the combined resale value of $600,000 – $680,000 offers an approximate gross margin of $95K – $175K, making this an attractive land redevelopment play with mid-level risk dependent on county approvals, install timelines, and achieving strong market finishes.