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Active Properties

$100k+ Profit Potential in West Pines on 1.5 Acres



$419,900

SOLD

19730 SW 12th St

Pembroke Pines, FL

  • This great deal is right by the West Pines Soccer Fields.
  • This flip has everything going for it. The property has a ton of square footage sitting on a private and secluded 1.5 acre lot that can be used agriculturally as a finca (farm). The house has a one car garage, and a fireplace as well.
  • The electric and A/C are both newer, and the roof appears watertight.
  • This CBS house has great bones, but needs complete updating inside including new bathrooms, kitchen, flooring, and paint. The exterior will need paint and some landscaping as well.
  • Why you need to buy this deal:
    1. Irreplaceable
    2. Great Comps
    3. Actives Suggest an Upwards Trend
    4. No Competition
    5. It's a Money Maker!
  • 1. Irreplaceable:
    -In Broward County, the cheapest active house sitting on more than an acre west of Flamingo Rd is this deal.
    -The next cheapest on more than an acre with similar square footage is 5195 SW 163rd Ave. This property has the same bed/bath count, but is a slightly smaller lot, needs full interior updating, and is asking $579,000.
  • 2. Great Comps:
    -Figuratively speaking, the floor when evaluating the ARV using rehabbed comps is very high, sitting at $650-730k.
    -In the last six months, the cheapest renovated property on an acre or more, west of Flamingo Rd, and that is similar to this subject, sold for $650,000.
    -In addition, the next cheapest comparable remolded property, that also happens to be smaller, sold for $659,014.
  • 3. Actives Suggest an Upwards Trend:
    -While the cheapest rehabbed comps show that this property can sell for $650-660k, the active comps suggest the ceiling can be much higher, potentially reaching $750k.
    -The cheapest rehabbed active property on more than an acre, 13401 SW 55th St, is asking $745,000.
    -The next cheapest active is slightly smaller and needs a complete renovation, yet they’re asking $749,000 for that property.
  • 4. No Competition:
    -The only active in the small pocket of sought after secluded properties near this one is another 3/2, 19711 SW 13th Mnr. Although this property has a nicer paver driveway, it sits on a lot that is about 2/3 the size of our subject and it also needs a full interior renovation, yet they're asking $619,000.
  • 5. It's a Money Maker:
    Roughly $80k Profit
    $600,000 ARV
    -5% Closing Costs and Commissions on Sale
    -$60,000 Rehab
    -$420,000 Purchase Price
    -$10,000 Closing Costs on Purchase
    =$80,000 Profit


Documents

 
No Documents for this Property


  • Sale Comps $550K - $600K
  • Rental Comps $3,400 - $3,600
  • Property Type Residential
  • Location Pembroke Pines, FL
  • Size 2752 sq. ft.
  • Bedrooms 3
  • Bathrooms 2
  • TAV 413.9K
  • Annual Taxes $4,214
  • Year Built 1976

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