Check out this fantastic opportunity in Northwest Orlando. It takes a little bit to parse all of the data, in order to understand where the full potential lies. The property consists of a 2,250 sf SFR house and an adjoining .3 Acre Lot. The total lot size is .62 acres. The main house has an inground pool and was recently updated in a multiple areas.
For the existing house, it’s larger than a lot of the comps, and has a pool, which a lot of the comps do not. So, it’s a little bit of a guessing game what the ARV is. Your most similar comp in sf is 5405 Reata. It’s a newer style home and rehabbed to the max. But it is slightly smaller and has no pool. Relying heavily on that comp says the subject property should sell between $430,000 and $440,000.
For the adjoining lot, you don’t have a ton of comparables. Value is probably somewhere around 30k as a vacant lot. I have also added a comp map of every new build, 2020 and newer, in the last 12 months, within the 32810 zip code. Ranges are from 198/sf to 262/sf.
Whatever you decide to build will determine what part of the range you will fall on. Your profit will obviously be the difference between your cost to build, and your end pp/sf.