Property Description:
Flip this house on the water in Cocoa Beach! House is in a highly desirable beach neighborhood and has already been demoed down to the studs for you. Previous sellers were going to rehab themselves, but decided to move on. You’re opportunity to reap the lost potential rewards.
The plumbing has been finished, and passed inspections. You will just need to fill the floor back in and re-seal. Electrical boxes have passed inspections, and the wiring is in the house, but you will need to do a little reconfiguring still. There is a ton of drywall in the garage that conveys, along with 3 toilets, 2 tubs, and a vanity. The framing is all ready to be inspected as well. The dock will need a little work but the windows are hurricane proof and newer. The previous contract installed the roof wrong though, so you will need to do the whole thing over. Good news is, we were able to get a truss package, with engineering on a similar sized house, with engineering for 13k, just recently. If you are going to keep the metal roof, you should be able to reuse what’s on there, because it’s brand new.
For comparables, you have rehabbed houses selling in the low Millions, and non-rehabbed homes selling in the 700k to 800k range. You have one newer build home, not on the water, that sold in the low millions just recently. With everything that has, and will be done to this house, I think you can make a case to call it a 2024/2025 built house. If you can win that argument with the city, your value should be pushing into the 1.3M – 1.4M, but there is no guarantees of this, of course. It’s a big project, but the views and the potential are epic. Call us today to wrap up this gem.