731 Magnolia Ave
Deal Approved
This deal has been approved and added to your portfolio pipeline.
This deal scores well across key metrics. Strong profit potential with acceptable risk profile.
Opportunity
Distressed bungalow in hot St. Pete neighborhood. Foreclosure auction with minimal competition expected. Lot value alone is $120K. Full gut rehab creates modern 2/2 in a $300K+ street.
Risk
Heavy rehab scope -- plumbing and electrical need full replacement. Permit timeline in Pinellas County averaging 6-8 weeks. Carrying costs will eat into margin if timeline extends.
Strategy
Fix and flip with aggressive 120-day timeline. Crew lined up for full gut. Comp support strong at $295K. Alternative: add 3rd bedroom (plans already approved for the lot) and push ARV to $340K.
Pre-foreclosure listing in 33701. Price 47% below zip median.
Clear title confirmed. No liens beyond mortgage.
Full gut: $58K (plumbing $14K, electrical $12K, kitchen $16K, baths $10K, flooring $6K).
BUY -- 34.8% ROI. Heavy rehab but strong comp support and lot value provides downside protection.