Great House on Lake Richmond. The house is a 3/2, with over 2000 sq ft of living space. The home is currently rented for $1200/mth until Feb 2020. This is a great flip with a current ARV of $209k but I would expect a bit higher once the home becomes vacant. The roof is about 10 years old according to the seller and the AC is only a few years old. The home was lipsticked prior to this tenant moving in a few months ago. We are estimating updates to be about $35k for max value but if you decided to just hold for a few years as a rental, this house should easily $1350 on the next renewal.
There are a few comps to support this price and maybe higher but another well known investor in the area just rehabbed one on the other side of the lake. It is only 1000 sq ft and is pending in only a few days for $169k
4269 Lake Richmond Dr is a 3/1, 1027 sq ft and is pending for $164,900 in 2 days –LAKEFRONT
4244 Lake Richmond is NOT on the lake, is a 5/3, 2474 sq ft and sold for $185k with a decent reno.
250 Domino Drive on Lake Mann is a 5/3, 2495 sq ft needed updating and is pending at $285k