FORT LAUDERDALE FLIP 3/2 | VALUE-ADD OPPORTUNITY

About this property

Property Highlights CBS construction in Fort Lauderdale. 1,360 Sq Ft of living area - larger than the two recently sold 3/2 comps below. Roof replaced in 2016. 2023 Mini-Split HVAC systems. Solar panels installed in 2022 and will be PAID OFF at closing. Water heater installed in 2017. GE electrical panel. Strong value-add opportunity requiring primarily interior renovations. REPAIRS NEEDED Property needs interior updating, including: Flooring Kitchen renovation Bathroom renovations Paint, fixtures, and general cosmetic improvements Several major-ticket items have already been addressed, including the roof, HVAC mini-splits, water heater, and solar installation. ARV BREAKDOWN Comp #1 - 2931 NW 5th Court, Fort Lauderdale, FL 33311 Pending: $419,000 5 Bed / 2 Bath 1,296 Sq Ft Built 1959 6,332 Sq Ft Lot Updated condition Roof approximately 3 years old Key Takeaway: This property is 64 Sq Ft smaller than the subject property and is currently pending at $419,000. Comp #2 - 535 NW 29th Terrace, Fort Lauderdale, FL 33311 SOLD: $390,000 3 Bed / 2 Bath 1,313 Sq Ft Built 1955 7,202 Sq Ft Lot Key Takeaway: This is a strong 3/2 comparison, but at 1,313 Sq Ft, it is still smaller than the subject property's 1,360 Sq Ft. It sold for $390,000. Comp #3 - 2840 NW 8th Street, Fort Lauderdale, FL 33311 SOLD: $380,000 3 Bed / 2 Bath 1,087 Sq Ft Built 1961 5,501 Sq Ft Lot Renovated condition Key Takeaway: This 3/2 sold for $380,000 despite having only 1,087 Sq Ft. The subject property is 273 Sq Ft larger - approximately 25% more living area. STRONG SIZE ADVANTAGE The two SOLD 3-bedroom / 2-bath comps provide strong support for the subject property's upside: 535 NW 29th Terrace:1,313 Sq Ft → SOLD $390,000 2840 NW 8th Street:1,087 Sq Ft → SOLD $380,000 SUBJECT PROPERTY: 1,360 SQ FT The subject is larger than BOTH sold 3/2 comps, including being 273 Sq Ft larger than the $380K sale.

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