Cheap Brevard County
Rental or Flip
Cocoa, FL 32922
Bedrooms: 3 Bathrooms: 1 SQFT: 756
Year: 1967 ARV: $105,000
Single Family Block Home, located in the red-hot market of Brevard County, featuring 3 Bedrooms, 1 bath, plus a carport. Roof was replaced in 2019, and AC is less than 10 years old, Water Heater less than 5yo, and all functioning fine. The home also has newer kitchen cabinets and ceramic tile throughout main living areas.
Currently income producing, with Section 8 tenant in place, paying under Market Value at $729/month with lease expiring on 03/31/2020. As a Buy & Hold, you can simply renew the current tenant in place, and increase rental amount with Section 8, or give it a little TLC (interior paint, replace carpet in bedrooms, etc), to make rent ready for your new tenant at a higher rate. With Market Value Rental Comps upwards of $900-1,000/month, this property could be the perfect addition to your rental portfolio. Or, with a quick and easy cosmetic rehab, it could also generate a nice return as a flip.
Expected NET Annual Income should be over $8,000 (at Minimal Market Value Rent of $900/month), giving buy and hold investors be over 11.50% NET ROI. While even at the current Under Market Value Rental rate, property still generates close to 9% NET ROI. So, whether you are a novice or a seasoned investor, at such a low price and with so much potential, you can’t afford to pass up this deal.
Call your Florida Property Hub agent today for more information and to schedule a showing
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