Hey there! This foreclosure is a gem because of the location and the chance to add serious value. Since the house already has an open layout and a fireplace, your big wins will come from fixing the roof and turning that den into a legitimate 3rd bedroom.
Niceville properties under $300k are rare. With 3-bedroom comps in the neighborhood hitting $340,000 to $380,000, you have a healthy margin if you execute the bedroom conversion efficiently.
| Project | Estimated Cost |
| :--- | :--- |
| New Shingle Roof | $12,000 - $15,000 |
| Den to 3rd Bedroom Conversion | $3,000 - $5,000 |
| Kitchen & Bath Refresh | $20,000 - $25,000 |
| Flooring & Paint (In/Out) | $12,000 - $15,000 |
| Total Estimated Reno | $47,000 - $60,000 |
By bumping this to a 3-bed/2-bath, you move from a $300k ceiling to a $365,000+ target.
| Item | Projected Figures |
| :--- | :--- |
| Purchase Price | $259,000 |
| Renovation Budget | $55,000 |
| Selling Costs (approx. 8%) | $29,200 |
| Potential Resale Value | $365,000 |
| Estimated Net Profit | ~$21,800 |
Profit looks a bit tight at the full $259k asking price, so try to negotiate. Don't forget those metal hurricane shutters mentioned in the listing—they are a massive selling point for Florida buyers and save you a ton on upgrades!
945 Rue De Palms Dr, Niceville Investment Report: Flip & Rental Analysis · Frontflip