Check out this Fountain Square gem of a house and lot next to it!!! Flip the house and build a new one on the vacant residential zoned 6,055 square foot lot!
Let's start with the house with street number 1148....the single family home built in 1900, is currently a 3 bedroom, 1 bathroom home with 1,890 finished square feet. There is a whole lot of untapped potential in the large oversized attic adding 1,093 more square feet to play with. Create two additional large bedrooms and bathrooms upstairs to make it a 5 bed, 3 bath house!!
The vinyl siding is in great shape and there are newer vinyl windows throughout except the attic. Off street parking is provided behind the house where you have plenty of space to add a garage.
Check out these comps!
1615 Woodlawn Ave - SOLD AS IS - $102k, 3/1 (23 DOM)
1218 Evison St - SOLD AS IS - $125k, 3/1 (3 DOM)
1150 Laurel - SOLD AS IS - $135k, 3/1
1157 Spruce St - SOLD AFTER FLIP - $300k, 4/3.5 with garage (28 DOM)
1214 Evison St - SOLD AFTER FLIP - $305k, 3/2 with garage (29 DOM)
1229 Spruce St - SOLD AFTER FLIP - $365k, 4/3.5 with garage (31 DOM)
1205 Spruce St - SOLD AFTER FLIP - $389k, 4/3.5 with garage (4 DOM)
Now, let's look at the lot located next door at 1152 S. State Ave! The size of this lot is the same size the house above sits on, 6055 square feet or 0.14 acre. It is zoned residential, homestead C1.
There is a new construction house at 1301 Spruce Street within a quarter mile that sold in the last 6 months for $368k with a smaller lot than ours (3,485 sq ft) and only 3 beds, 2 full and one half bath. It was only on the market for 48 days. The new one right next to it (1305 Spruce) sold for $360k in February 2017, with only 3 days on the market. Then, there was 1309 Spruce that sold for $369,500 also in February 2017. All of these had lots just over 3,000 square feet! So, as you can see there is a lot of potential for this lot to be built on as well.
Please perform your own due diligence as scope of work may vary. When viewing this property, park in the parking area behind the home.
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