Property Description:
This oversized 5-bed, 4-bath CBS home in Eustis sits at the end of a cul-de-sac on 1.16 acres, offering 4,563 sq ft of living space and direct lake adjacency. It’s one of those rare finds where the house itself is tough to comp — not because it’s flawed, but because it’s simply in a league of its own in size, layout, and location. Everything else selling nearby is half the size or less.
🛠️ It’s Not Turnkey — But It’s a Canvas
Yes, this property needs a full cosmetic rehab — but you’re working with a massive structure and solid bones. It’ll need a new roof, plumbing and drywall updates, and one of the A/C units will need replacement (the other is 10 years old). You’re not tearing down — you’re breathing new life into a lake-adjacent custom build. There’s also a 21-day post-occupancy agreement in place, backed by a $10K escrow hold.
📊 A Wide Value Spread — and That’s the Opportunity
This isn’t your typical comp-based pricing scenario. Depending on how you approach the renovation and marketing, value could range anywhere from $650K to $850K. That’s a big spread, but it’s reflective of how little inventory there is like this in the immediate area.
📈 Recent Sales Activity Nearby (for Reference)
While none of these comps match the scale, they do show what’s moving and at what price per foot:
🔵 17108 Pine Ridge Dr (912 sq ft, 2.2 acres) – Pending at $175K ($192/sq ft)
🔵 36945 Penny Ln (1,428 sq ft, 1.7 acres) – Sold for $288K ($202/sq ft)
🔵 37201 Oak Ln (1,733 sq ft, 0.58 acres) – Sold for $300K ($173/sq ft)
🔵 16146 Wallace St (1,104 sq ft, 0.46 acres) – Sold for $165K ($149/sq ft)
🔵 37310 Myrtle Dr (2,307 sq ft, 0.65 acres) – Sold for $270K ($117/sq ft)
🔵 16528 Orange Ave (1,444 sq ft, 0.53 acres) – Sold for $342K ($237/sq ft)
🔵 142 Timber Ln (2,310 sq ft, 2 acres) – Sold for $575K ($249/sq ft)
🔵 37325 State Road 19 (1,344 sq ft, 0.54 acres) – Sold for $250K ($186/sq ft)
🧭 Why This Area?
Eustis is part of Lake County and sits on the Harris Chain of Lakes. It’s known for outdoor living, lower taxes, and being close enough to Orlando while offering way more space and privacy. Investors and homebuyers alike are targeting these quieter pockets, especially as larger, unique homes become harder to find. Waterfront proximity is a major plus here — and it’s a factor that drives ARV higher in the right hands.
💡 Bottom Line
This isn’t a plug-and-play flip. It’s for an investor who understands how to work a unique asset in a tight inventory market. With a smart rehab and compelling design, there’s potential for serious spread — whether it’s resale, short-term rental, or a creative exit strategy.
🏷️ Asking Price: $463,500
🔨 Rehab: Full cosmetic + systems (roof, A/C, plumbing)
📈 ARV: $650K–$850K, depending on strategy and finish