This Mobile Home sits on a HUGE 13.4 acres of land!
It’s in a canal front subdivision connected to St. John’s river.
The canal borders two sides of the lot.
The home fixed up is worth $240k if it were on a 1/2 acre lot, this is on 13 Acres.
We spoke to the county and it sounds like some subdividing may be possible but of course nothing is easy with developing land with the county. We estimate if you fix up the home and keep everything as the one large 13acre parcel, you could potentially resell it in the $350k+ range. If you are able to split the lot into 4-5 seperate lots, all with some canal frontage, you could probably sell each vacant lot for $75k and then the house on it’s lot for $250k. Potential for around $550k ARV going this route. Either way, this deal makes sense and could either be a solid profit, or a huge profit if you can do some subdividing.
About 5.2 acres uplands, and 8.2 acres listed in the flood plain/wetlands but it doesn’t look too wet. The current house is built in the “wetland” area and the neighboring neighborhood is all the exact same level and it contains hundred of homes.
Subject – / 13.4 acres.
24328 Fox Rd – $ 39,000 / 0.27 acres
55723 Sam St – $ 30,000 / 0.29 acres
In the 1 mile range small canal lands selling for $55,000-75,000.
With $ 20,890 per acres land value is $ 280,000
Subject – /3 bed 2 bath / 924 sqrft
24910 Bartram Rd – $ 225,000. / 2 bed 1 bath / 780 sqrft
55819 Sam St – $ 200,000 (cash) / 2 bed 2 bath / 890 sqrft
Average price per sqrft = $156
ARV with even 1+ acre of land = $240,000
ARV w/ all 13.4 acres = $350k+
ARV with subdividing= $550k