The Flip Potential of 621 Lanier Cres Portsmouth, VA🏡 is medium.
Current Specs
0 Bed / 2 Bath
1,336 sqft
$177 per sqft
Estimated Value$237,113
Flip Advice
This 1336 sq ft property in Portsmouth, VA presents an interesting opportunity for flipping. Built in 1942, it likely needs some updates but has appreciated significantly in recent years. The current estimated value of $246K represents a 52% increase from $162K in 2020, indicating strong market growth in the area.
Consider purchasing if you can acquire it below $172K (70% of ARV minus $50K for renovations). Focus on modernizing the kitchen and bathrooms, updating systems, and enhancing curb appeal. The nearby comps suggest potential for a $300K+ resale with strategic improvements. However, be cautious of over-improving for the neighborhood.
The accuracy of the Frontflip report and its applicability to your circumstances are not guaranteed. This calculator is offered for educational purposes only, and is not a substitute for professional advice. All figures provided by the Frontflip calculator are estimates only and are not reflective of what your actual results may be.
Flip Scenarios
Explore renovation scenarios based on recent comps that could increase the value of 621 Lanier Cres: