Get more deals like this post: Sign up for our exclusive Daily Deal of the Day Publication so you can receive a notification as soon as a fresh deal is published.
Update: This property just sold since the recording was made.
List Price: $175,000
*Based on the following CMA Criteria:
Distance: 0.25 miles Recency: 180 days Year Built: +/- 10 years SQFT: +/- 20%
Check out our event schedule
This is Real Estate IQ’s Deal of the Day. And today we have found a fabulous deal for you, in the Houston market.
Hello, everyone. Thanks for tuning in. Today's Houston deal of the day is 20346 Acapulco Cove Drive in 77346. This is actually in Atascocita, so it's up north, right outside on Lake Houston. Clicked the details about this property, it's listed at $175,000 comping at about $288,000. So that means you have $175,000 to do your rehab, and pay your costs and get your profit, so seems like a lot of room for profit. This is a 5-bedroom, 3 and a half bath, 2 car garage, 2-story with a fireplace built in 1978 and it's 3082 square feet, and a nice big 9600 square foot lot.
The remarks say this is a great Fixer Upper, home selling as is. Located in the beautiful golf course and Lakeside community of Atascocita Shores and zoned to top-rated Humble ISD schools. Right. So let's look at the comps. Down here. So this one, which is also in the same Atascocita Shores subdivision, sold for a 109.66 per square foot, quarter mile away and it's sold less than six months ago for 299, listed at $299,000 sold at $285,000 after 82 days on the market. So the days on the market is something you're gonna want to pay attention to. With the in this area because these 2 are on the market for a really long time. This one 59 days, this one 82 days. So if we look at the agent's remarks, this comp says it's on a canal, leading to the lake. Lot of them talk about, the lake view here is nice. And this one says the turnkey kitchen is remodeled, has new cabinets. This one, also says has every touch that a refined eye could possibly want. So I've checked that all those have been fixed up. These 2 have not been fixed up so, I took them off the list. And this one sold for $73 square foot. And this one for $62 square foot without being fixed up. So let's take a look at the pictures. Here's our subject property. And you can see that this one did flood. That's not in the remarks, it just says Fixer Upper. You might be able to keep that tile backsplash if you wanted, and the countertops, look, look pretty decent. You just have to fix up those cupboards underneath them. Master shower, and that's all the pictures there are of it. It's not very many. So let's look at a couple of the comps. This one on Amber Cove Drive. Nice big deck. You can tell this one's been fixed up in a modern white. That's a lot of white. I would not suggest this house if you have kids. All right. Not too many pictures of that one either. Let's look at this one. So that's got some nice big windows. Whoops, sorry, I didn't mean to make it easy there, little fast. Interesting front door. Nice big windows. Also a deck in a, in a modern look to the inside. A lot of pictures of the same parts of the house. This one. looks to be a bit smaller house. With lots of pictures of the outside and nothing of the, oh there we go. It's got carpet. This is not a high-quality picture. And that's the only one of the kitchen. And so it looks like this modern finish is what's in. So if you wanted to get the highest top dollar price, you'd have to fix yours as pretty nice, like that one. So I think this could be a good, good flip. The rental index is 1.12. Possible buy and hold, but by the time you put money into fixing it up, if you were to do that might take that window. Make that rental index, a little low. So as always, make sure you do your own due diligence. Thanks for listening and happy investing.
If you want to learn how to analyze deals just like us. Make sure you check out this webinar on how to run comps. The link is below. We'll also introduce to you this new tool called Fast CMA which is a high-end professional comps tool that allows you to pull comps and analyze comps just like the experts. Make sure you check it out.
DISCLAIMER: INVEST AT YOUR OWN RISK. DEAL FINDER LLC DISCLAIMS ALL RESPONSIBILITY FOR ANY LOSS, INJURY, CLAIM, LIABILITY, OR DAMAGE OF ANY KIND RESULTING FROM THIS BLOG SITE; DEAL FINDER LLC SHALL NOT BE LIABLE FOR ANY SPECIAL, DIRECT, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING, WITHOUT LIMITATION, ATTORNEYS’ FEES) IN ANY WAY.