Property Details:
Check out this fully renovated rental!
This Leesburg mobile home, Located in a vacation neighborhood right off Lake Eustis. Where people bring their boat, and retreat for a relaxing family time.
The neighborhood has no age restrictions, no HOA, and equipped with public access to boat entrance to the lake.
The house is fully renovated!
Add some furniture and list it on Airbnb:
for $100 a night, you expect a 30% gross cap!
Or rent it traditionally:
With no work, you can expect $1,200 a month.
It’s a %12.5 gross cap with almost no maintenance.
Time to make some return… hurry up and lock it up!
Comps:
3 Homes in the 1.2 mile range sold for an average price of $119K.
The first comp is a second hand home in dated condition. It needs complete interior renovation, but has a pool. Sold for $141K in cash. The second comp is a second hand home in a dated condition. Proximate to lake but without boat dock. Sold for 126K. The 3rd comp is a second hand home in a dated condition. Smaller in size – only 727 soft. Sold for $90K.
Considering that all of the comps are not renovated, and even in bad shape, and the fact that they sold for an average price of $120K. We estimate and ARV of this completely renovated subject of $150,000.
