Property Overview

• List Price: $900,000
• Full Address: 2572 NE 26th St, Fort Lauderdale, FL 33305-1607
• Property Status: Active
• Property Type: Single-Family Home
• Bedrooms: 3
• Bathrooms: 2.5
• City: Fort Lauderdale
• State: Florida
• Zipcode: 33305
• Country: USA
• Neighborhood: Coral Ridge
• Community: Coral Ridge Galt Addition
• Property Size: 1,606 Sq Ft (Living Area)
• Lot Size: 9,945 Sq Ft
• Year Built: 1962

Description

Fix and Flip Opportunity! This Coral Ridge property is fully gutted and ready for renovation, making it the perfect canvas for investors and contractors. Situated on a spacious 10,000 Sq Ft lot, there’s room for a pool and luxurious outdoor space. Located minutes from Fort Lauderdale’s beaches, top-rated schools, shopping, and fine dining, this property is poised to become a high-end custom home. The barrel tile roof and impact glass provide a solid foundation for renovation. Whether you’re aiming for a coastal retreat or modern luxury home, this property has massive potential in a prime location.

Realtor Inputs & Market Insights

• Comparable Sales:
  • 2724 NE 21st Ct – Sold for $1,250,000 (1,348 Sq Ft)
  • 2404 NE 28th Ave – Sold for $1,620,000 (1,697 Sq Ft)
  • 2836 NE 22nd St – Sold for $1,442,000 (1,626 Sq Ft)
  • 2107 NE 17th Ave – Sold for $980,000 (1,756 Sq Ft)
• ARV (After Repair Value): $1,250,000 – $1,400,000
• Predicted Appreciation (5-10 Years): 3% annually
• Rental Income: $7,000 – $7,600/month
• Rental Comparison:
  • 3-bed units range from $7,000 – $7,600/month

Operating Expenses: Estimated at 30% of gross income

Buy & Hold Projection:

• Rental Income (Post-Renovation): $7,000 – $7,600/month
• Annual Gross Income: $84,000 – $91,200
• Annual Operating Expenses (30%): $25,200 – $27,360
• Net Operating Income (NOI): $56,000 – $63,840
• Cap Rate: 7.5% based on an $850,000 purchase price

Investor Strategy

• Primary Strategy: Fix & Flip – High profit potential in Coral Ridge’s luxury market.
• Secondary Strategy: Luxury Rental Investment – Rent at premium rates near Fort Lauderdale’s beach district.
• Occupancy: Vacant
• Current Condition: Gutted, needs full renovation
• Estimated Repair Costs: $150,000 – $200,000

Permits & Compliance

• No known liens or violations (Verification recommended).
• Inspection Reports: Property sold as-is; inspections recommended.

Breakdown of Repairs Needed

Market Trends & Appreciation

• Coral Ridge Market Trends:
  • Typical Home Values: $1,005,632
  • 1-Year Value Change: +3%
  • Projected 1-Year Growth: +5%
  • Median Listing Price: $1,122,600

Final Takeaway for Investors

This Coral Ridge property is an exceptional fix-and-flip opportunity in a prime neighborhood. With its close proximity to the beach, large lot, and luxury home potential, it offers strong profit margins for renovation projects or high-end rental investments. Don’t miss this rare opportunity to own in one of Fort Lauderdale’s most desirable neighborhoods!

Contact your agent today for a showing!