Property Description:
This 3-bedroom, 2-bathroom single-family home is located on a 2.13-acre lot in Lake Wales. Built in 1986, the property is 1,764 sq. ft. and block construction. The home is vacant and has a clear title. The roof and A/C unit are approximately 15 years old. Access is available via lockbox.
🛠️ Rehab Scope (Estimated)
- Interior: Replace flooring throughout and paint.
- Kitchen Modernization: Install new cabinetry, quartz or granite countertops, and a modern stainless steel appliance package.
- Bathroom Updates: Full refresh of both bathrooms including new vanities, tile work, and updated plumbing fixtures.
- Exterior: Fresh exterior paint and professional landscaping.
- Systems: Replace the roof and service A/C unit.
- Systems Check: Perform a diagnostic on the electrical and plumbing systems to ensure FHA/VA appraisal compliance.
🟣 Comparable Sales
- 4237 Chambers St – 4/3 | 2,742 sf | Sold $585,000 | 10/2025 | Unknown level of rehab (0.87-acre lot)
- 8958 Cypresswood Dr – 3/2 | 1,817 sf | Sold $365,000 | 09/09/2025 | Move-in Ready (1-acre lot)
- 2289 Walk In Water Rd – 3/2 | 1,449 sf | Sold $310,000 | 11/14/2025 | Unknown level of rehab (1-acre lot)
- 2995 Walk In Water Rd – 4/2 | 1,680 sf | Sold $295,000 | 12/28/2023 | New Construction (1.01-acre lot)
- 8800 Deer Run Dr – 3/3 | 1,512 sf | Sold $180,000 | 11/24/2025 | Unknown level of rehab (5-acre lot)
💰 ARV Analysis
Renovated homes on acreage in this section of Lake Wales are selling between $180 and $210 per square foot. Comps on nearby Walk In Water Rd and Cypresswood Dr support values in the mid-$300s for updated properties on 1+ acre lots. Given the subject’s 2.13-acre lot and 1,764 sq. ft. living area, a professional renovation should push this property toward the top of the local market.
Estimated ARV: $335,000 – $355,000 +/-