Property Description:
This 1,232 sq ft 3-bed, 2-bath block home sits on an 8,276 sq ft lot in Naples Manor. Built in 1973, the property features a basic layout, off-street parking, and a standard neighborhood footprint. It will be delivered vacant at closing and is in need of significant updates.
The home requires a full cosmetic renovation including new paint, flooring, kitchen and bath remodels, and fixture replacements throughout. The roof needs to be replaced, and major systems (HVAC, plumbing, electrical) should be inspected and likely budgeted for upgrades. Exterior cleanup and landscaping will improve curb appeal and resale potential.
🔴 Recently Sold / Pending
· 5441 Martin St – 1,100 sq ft, built 1977 → Sold $550,000 ($500/sq ft) – updated
· 5545 Sholtz St – 992 sq ft, built 1981 → Sold $520,000 ($524/sq ft) – updated
· 5541 Sholtz St – 1,064 sq ft, built 2000 → Sold $400,000 ($376/sq ft) – partially updated
· 5341 Hardee St – 1,488 sq ft, built 1977 → Sold $375,000 ($252/sq ft) – larger, dated
· 5317 Dixie Dr – 910 sq ft, built 1983 → Sold $210,000 ($231/sq ft) – dated fixer
· 5422 Hardee St – 1,064 sq ft, built 2001 → Off Market est. $379,580 ($357/sq ft) – partial updates
· 5353 Martin St – 1,416 sq ft, built 1995 → Active for sale $529,000 ($374/sq ft) – updated
· 354 Hidden Valley Dr – 1,692 sq ft, built 1987 → Sold $600,000 ($355/sq ft) – larger, updated
✅ ARV Conclusion
Comps range widely from $231/sq ft (smaller, rougher homes) to $524/sq ft (updated, smaller homes commanding premium prices). For the subject’s 1,232 sq ft size, a reasonable blended value for a fully rehabbed home is $325–$360 per sq ft.
- Likely ARV: ~$400,000–$445,000 (at $325–360/sq ft with full rehab)
- High-End ARV: ~$450,000+ (if finished to a higher spec with strong curb appeal)
At an asking price of $295,000, this property has solid spread potential for a full renovation in Naples Manor, provided renovation costs are kept in check and the roof and mechanical upgrades are completed to retail standard.