Matthew & Chocky BurksReal Estate · Corcoran Premier Realty
Underwriting example · Winter Park

Do not model the build before the lot is proven.

A live teardown screen at 1037 N Virginia Avenue shows the order of operations: establish the parcel, test the zoning envelope, then run the finished-product residual.

$649KPublic asking price
6,500 sfAdvertised lot
65 × 100Published dimensions
R-1APublished zoning

The first screen

The site was marketed as a golf-course lot and teardown opportunity. The parcel is attractive. The advertised size is also below the current standard minimum for an R-1A building site in Winter Park.

InputPublic recordUnderwriting implication
Asking price$649,000About $100 per advertised land square foot before closing costs, demolition, design, permitting, or carrying cost.
Lot size and width6,500 sf; 65 feet wideBelow the current R-1A standard of 8,500 sf and 75 feet at the building line.
Existing improvement1960 bungalow; 1,101 living sfThe purchase is not clean land. Demolition, utilities, and permitting belong in the basis.
Rear amenityGolf-course viewA survey must distinguish owned yard from adjoining course land and identify easements.

Public listing feeds and property data checked August 25, 2026. Current listing feeds showed the property contingent at $649,000. City of Winter Park Land Development Code §58-65 sets the R-1A standard minimum at 8,500 sf and 75 feet. This is an educational screen, not legal, zoning, engineering, investment, or appraisal advice.

The decision gates

1. Lot-of-record status

Confirm the recorded plat or deed date and whether the parcel qualifies as a lawful nonconforming lot. A marketing label is not a zoning determination.

2. Buildable envelope

Get written city guidance on setbacks, lot coverage, floor-area ratio, height, tree constraints, and impervious area for this exact parcel.

3. Survey and title

Locate the rear line, course interface, easements, utilities, and access before assigning value to the view or to outdoor living.

Until those gates clear, a detailed construction return is false precision.

What comes after verification

Once the envelope is known, the residual is straightforward: credible finished-home value, less hard cost, soft cost, finance, contingency, selling cost, and required margin. The remainder is the maximum supportable land basis. The point of the first screen is to keep every later number anchored to something buildable.

City of Winter Park zoning code · Burks teardown and custom-build advisory

Have a teardown candidate?

Start with the parcel and the envelope. Then decide what it can become.

Call Matthew · (407) 257-5347