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About this home
5034 Old Cheney Hwy is a home in Lake Shore Estates, Orlando. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
Rare builder and investor opportunity to acquire an oversized lot with potential for subdivision into two separate lots, subject to zoning and governmental approvals. The property currently holds a single-family residence and functional in-ground pool; however, the primary value is in the land and its redevelopment potential. Explore the possibilities of dividing the existing parcel and creating two new homesites, or pursue an alternative redevelopment plan. This is an exceptional opportunity for builders, developers and investors seeking a well-located property with significant upside. Buyer to independently verify lot dimensions, zoning, future land use, subdivision requirements, density, permitted uses, setbacks, utilities, access and all other development criteria with the appropriate governmental authorities. Property is being sold as-is. This property is zoned for top-rated schools including Baldwin Park Elementary, Glenridge Middle School and Winter Park High School.
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The essentials
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Details
Districts can re-zone, so verify directly with the district before relying on these.
Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$450,000
Time on market
51 days
Monthly payment
About $2,858/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $3,431 annual tax bill, insurance.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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