35000 INSTANT EQUITY FORT MYERS FL 3BR2BA LTR APPRECIATION PLAY ARV 461000

About this property

$35,000 INSTANT EQUITY in Poinciana Park - Fort Myers' Historic McGregor Corridor. Fully remodeled (~$150K in updates), turnkey-FURNISHED pool home on an oversized 0.48-acre corner lot, one block off iconic McGregor Blvd. Buy at $412,500 and hold: this is an appreciation + depreciation play in one of SWFL's most storied corridors at $461,000 ARV. Property Highlights: 3 Bedrooms / 2 Bathrooms 1,464 Sq Ft of Living Space 0.48 Acre Corner Lot (~20,900 sqft) Built 1957 | 1-Story Ranch | Block/Stucco Private In-Ground Pool (solar heat, screened enclosure, resurfaced) 2.5-Car Detached Garage + Carport, circular driveway Chef's kitchen: mahogany 42" cabinets, Level-5 granite, SS appliances ALL impact-resistant windows & sliders (full storm protection) Updated plumbing & electrical, newer A/C; wood-burning fireplace Screened lanai w/ outdoor kitchen; sold FULLY FURNISHED + 1-yr home warranty HOA: NONE | Annual Taxes: ~$4,031 The Numbers: Asking: $432,500 Buy Now: $427,500 ARV: $461,000 (verify with closed-comp CMA - see note below) Estimated Reno: $0-$10,000 (turnkey - already fully remodeled) Market Rent: ~$2,400/mo unfurnished; furnished/executive premium upside Min EMD: $5,000 Why Buy-and-Hold Here: Zero-work asset in a supply-constrained historic corridor. Harvest depreciation from day one - the ~$150K in recent improvements makes this a strong cost-segregation / bonus-depreciation candidate (verify specifics with your CPA) - while McGregor-corridor scarcity does the appreciation work. No HOA. Impact windows keep insurance manageable. Location - Poinciana Park / Historic McGregor Corridor, Fort Myers FL 33901: Steps from the Edison & Ford Winter Estates and a short walk to downtown Fort Myers' River District restaurants, breweries, and waterfront events. Quick access to US-41, MLK Jr Blvd, and the Caloosahatchee. Historic-district streets like this don't add inventory - long-term scarcity underwrites the appreciation thesis. COMPS (per underwriting 6/23 - mostly ACTIVE listings, closed sales thin in this pocket; confirm with CMA): 2702 McGregor Blvd - $494,900 active (3/2, 1,934 sqft, remodeled, same street) 2408 Euclid Ave - $699,900 active (3/2, 1,347 sqft, oversized corner lot) McGregor corridor 12-mo median sale ~$380K; subject's oversized corner lot, pool, full impact package, and turnkey-furnished condition command a premium. Exit Strategies: Long-term hold: furnished or unfurnished rental while harvesting depreciation and riding corridor appreciation Season, then refi or 1031 into the next asset Resale to end-user / historic-district buyer at ARV (zero-work listing) Phone: Disclaimer: Property is being sold AS-IS, WHERE-IS. Buyer to pay all closing costs and title insurance. Cash or hard money only - no conventional or FHA financing. All offers require a $5,000 non-refundable earnest money deposit and an average 7-14 day close of escrow. Equal Opportunity Housing. Broker participation welcome at 3% on top of the buy-now price.

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