Additional Details

• Important Details: --> 3/1 cbs (2/1 on tax roll) --> Vacant and on lockbox! --> Roof replaced in 2019 w/ a permit!
• Features: New deal in the heart of Panama City! This 3 bedroom, 1 bathroom cbs home (2/1 on tax roll) features 888 sqft of living area plus an attached carport. Property sits on a 0.15-acre corner lot in a neighborhood with lots of activity. Property is being offered vacant and on lockbox!
• Rehab Description: For a flip or rental, this needs a full cosmetic update. Upgrade the kitchen, bathroom, flooring, and trim/fixtures/appliances. Roof was replaced in 2019 with a permit. HVAC, plumbing, and electrical appear to be in working condition. Round out the rehab by pressure washing and painting the exterior and doing some landscaping to boost appeal. Low grade floor tilt may need attention as a sign of a foundation issue.
• Estimated Rehab: $40,000 - $60,000
• Ideal Investment Strategy: Rental/Resale
• Potential ARV: $185,000 - $215,000
• Comparable Rent: $1,300
• Construction: CBS
• Comp 1: 537 E 5th Ct, Panama City, FL 32401 (2/1, 924 sqft) SOLD for $250k in MARCH (1925 build, frame, fully renovated, 0.32 acres)
• Comp 2: 551 E 5th St, Panama City, FL 32401 (2/1, 896 sqft) SOLD for $218k in MARCH (1944 build, frame, partially updated, 1-car garage)
• Comp 3: 905 E 9th St, Panama City, FL 32401 (2/1, 600 sqft) SOLD for $160k in MARCH (1969 build, as-is investor sale)
• Comp 4: 1012 Massalina Dr, Panama City, FL 32401 (3/2, 1096 sqft) PENDING for $220k in APRIL (1997 build, frame, updated, 16 days on market)
• Hard Money: Pre-Approved by OPS Loans for up to 60% LTV – See OPS Loans Tab