When analyzing the Florida housing market—a region known for its dynamic shifts, high demand, and lucrative opportunities—finding a property priced under $100,000 is increasingly rare. Finding one that offers not just one, but three distinct, highly profitable exit strategies is almost unheard of.
Today, we are conducting a deep-dive case study into a property that serves as a masterclass in creative real estate investing: a 1910 Craftsman-style home located at 5282 Dothan St, Campbellton, FL 32426. Listed at a highly attractive $90,000, this property sits on a spacious 1.2-acre lot and holds massive untapped potential.
Whether your goal is to restore a piece of Southern history, generate high-yield short-term rental income, or execute a highly profitable lot-split development, this Campbellton property is the ultimate blank canvas. Let’s break down the economics, the infrastructure, and the massive upside of this unique asset.
Property Highlights at a Glance
- Address: 5282 Dothan St, Campbellton, FL 32426.
- Listing Price: $90,000 (An incredibly low $66/sqft).
- Property Type: Single Family Residence (Craftsman Style).
- Bedrooms & Bathrooms: 2 Bedrooms, 2 Full Bathrooms.
- Square Footage: 1,363 sq. ft. of interior livable area.
- Lot Size: 1.2 Acres (253 x 256 dimensions).
- Year Built: 1910.
- Taxes: $329 Annually.
Exit Strategy 1: The Historic Restoration (The “Flip”)
For investors who specialize in the BRRRR method or traditional flipping, this property offers incredible “good bones.” Built in 1910, the home exudes timeless Southern charm with a classic front-porch feel, surrounded by mature cedar and oak trees.
The home is being sold “as-is,” which is the exact phrase value-add investors look for. Inside the 1,363 square feet of living space, you aren’t dealing with cheap modern builder-grade materials. Instead, the home features gorgeous original hardwood floors, original doors, and historic windows. It also boasts four distinct fireplaces and a vintage clawfoot tub, showcasing the craftsmanship of a bygone era.
The CapEx Advantage: Often, historic homes come with hidden Capital Expenditure (CapEx) nightmares like failing septic systems or nonexistent HVAC. However, this property has already had major heavy lifting completed. It features a new septic tank and two new ductless mini-split systems installed in 2025, alongside three additional window units for flexible climate control. By focusing purely on cosmetic restoration—sanding the original floors, modernizing the kitchen, and applying fresh paint—an investor can bring this uniquely charming historic property back to its former glory to flip to a retail buyer looking for a move-in-ready Southern estate.
Exit Strategy 2: The Short-Term Rental (Airbnb) Cash Cow
If you prefer to hold your real estate for long-term cash flow, this property checks all the boxes for a highly successful Short-Term Rental (STR). Crucially, the listing notes that “Short Term Rental Allowed,” meaning you will not be fighting against strict HOA regulations or local bans.
The location is a strategic hybrid. Situated in Campbellton, it offers the space and tranquility of country-style living while remaining highly accessible. It is located just a block from Highway 231 and is within walking distance to the Southern Fields Brewing Company, providing immediate local entertainment for guests. Furthermore, its proximity to major destinations like Panama City Beach and Dothan, AL, makes it a perfect, affordable basecamp for vacationers, traveling nurses, or families visiting the Panhandle.
For content creators and digital marketers in the real estate space, documenting the transformation of a 1910 Craftsman into a boutique, highly aesthetic Airbnb provides incredible video content that can drive massive organic traffic to the booking listing itself.
Exit Strategy 3: The Lot-Split & Mobile Home Strategy (The Goldmine)
While the historic house is beautiful, the true exponential wealth in this deal lies in the dirt. The property sits on a massive 1.2-acre corner lot.
According to the listing details, this parcel “can potentially be split into two lots with approval from the city commissioners”. Furthermore, the zoning “allows for mobile homes”.
This is where the math gets incredibly exciting. The property is already equipped with two septic tanks. This is a massive infrastructural advantage. An investor could purchase the property for $90,000, go through the bureaucratic process of legally splitting the 1.2 acres into two separate 0.6-acre parcels, and utilize the second, already-existing septic tank.
Because mobile homes are permitted, you could drop a brand-new, double-wide manufactured home onto the newly created second lot for a fraction of the cost of a traditional stick-built home. You now own two income-producing properties on what used to be a single parcel. You could sell the newly created mobile home lot for a massive profit, completely paying off the original $90,000 investment, leaving you with a free and clear historic home on the remaining lot.
The Ultimate Investor Advantage: Rock-Bottom Holding Costs
Regardless of which exit strategy you choose, real estate investing always carries risk. The best way to mitigate that risk is through low holding costs.
According to the public tax records, the 2024 annual property taxes for this 1.2-acre estate were a mere $309. Even the newly assessed tax amount is listed at just $329 annually.
With holding costs this low, an investor has the ultimate luxury: Time. You do not have to rush a sloppy renovation to beat the mounting pressure of monthly expenses. You can slowly restore the historic details, take the time required to petition the city commissioners for the lot split, or simply hold the property as a land-banked asset while the Florida market continues to appreciate.
The Verdict on 5282 Dothan St
Properties like this are the definition of an investor’s playground. For $90,000, you are not just buying a 2-bedroom house. You are acquiring a 1910 historic restoration project, a potential high-yield short-term rental, and a fully functional land-development opportunity with pre-existing infrastructure. Whether you are looking to force equity through renovations or multiply your doors through lot splitting, this Campbellton, FL property is a rare Southern beauty that demands the attention of any serious real estate portfolio.
Listed on Zillow