Palmetto, FL! 💥 Off Market Light Rehab Fix n Flip or High-Income Rental Uniquely Located Near the Water

Description

💥Off-Market Property for Assignment in Palmetto, FL! 💥

Light Rehab Fix n Flip or High-Income Rental – Uniquely Located on Quiet Street Near the Water – High Demand Area Halfway Between St. Petersburg & Sarasota

📍 Property Overview:

Size: 1,602 sqft

Year Built: 1971, Renovated 1981

Layout: 3 Bedrooms / 2 Bathrooms

Roof: 3 years old

HVAC: 7 years old

Windows: Updated less than 10 years ago

Status: Owner Occupied, Vacant at Closing

HOA: None, no rental restrictions

💰 Financial Highlights:

Asking Price: $275k + closing costs

Rehab Estimate: $15k – $25k (light rehab)

After Repair Value (ARV): Over $375,000 (potential to push ARV higher due to unique location and no comps are fully updated)

LTR Rates: $2,400 – $2,600/month

AirDNA STR Projection: Over $5,700/month ($68,300 annually at 55% occupancy, $340/night)

Potential RV Hookup Income: $8k – $10k/year (“The Tides” a high-end RV resort across the street is fully booked by million-dollar RVs for $5,000/spot with a year-long waiting list. Our Contractor said there is room on the property to host 1-2 RV hookups easily!)

EMD: $5k

🌊 Unique Location Advantages:

Water Proximity: Near scenic water views enhancing property appeal.

RV Income Opportunity: Potential to establish RV hookups for additional revenue, with high demand from a nearby luxury RV resort.

Downtown St. Petersburg & Sarasota: 25 min

Major Hospital: 20 min

International Airport: 25 min

🚀 Investor’s Edge:

Off-Market Gem: Tap into the potential of a less competitive market.

Versatile Investment: Suitable for both rental and flip strategies.

High-Income Potential: Strong rental projections and additional RV income.