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Update: This property just sold since the recording was made.
List Price: $220,000
*Based on the following CMA Criteria:
Distance: 0.50 miles Recency: 180 days Year Built: +/- 10 years SQFT: +/- 20%
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This is Real Estate IQ’s Deal of the Day. And today we found a fantastic deal for you in the Austin and San Antonio market.
Thank you, Steve. And to you our audience, thank you for tuning in to the Real Estate IQ Deal of the Day. Today we are in the San Antonio markets, looking at a great potential fix and flip opportunity brought to us by the MLS Deal Finder System, the subject property address is 212 Courtland Place East in the 78212 zip code. Now the subject property hit the market almost a year ago. So it's been sitting for a while and it has recently gone through a price reduction. Originally it was listed at 235,000 now it's been reduced to 220,000 and that, with an estimated price or after repair value of $360,000 that makes for a discount of about 39% off of market value or $141,000 off the market value. So the subject property is a 2-bed, 2-bathroom, single story property. And pulling up the map here, you can see our subject property at the center here and the location in San Antonio. It is on the north side, north of the downtown area and beside, right beside San Antonio College, and pretty close to the San Antonio Zoo and the Japanese Tea Garden.
So zooming in here, you can see again the subject property and the 4 comparable properties that were selected, based on proximity recency and some other factors. But zooming in here, we can drop into Street View. See our subject property right here. And looking around, we can see some new construction activity and some fairly nice large homes nearby. It looks to be, some multifamily units here as well. And some commercial buildings nearby as well. Scrolling down we can see again, our subject property on the first column here, with all the relevant details. Again, we are in the Tobin Hill subdivision and the comparable properties that were picked up by the system are all in the Tobin Hill subdivision as well. With, and they all sold at least, these two comparables 1 and 2 sold very quickly, within about a month and for a significantly higher dollar per square foot range close to the 200s. Whereas our subject property is priced at the 130 range. We can also see the details, specifically the remarks about this property. It is listed as a huge investment potential and a desirable location.
So what we want to do now is also take a look at the photos of the interior, if there are any. And in this case, based on the price, and the fact that no photos of the interior, that basically tells us that the interior needs quite a bit of work. So, unfortunately, this means due diligence on site is necessary, really, to scope out the amount of work. But at least we can take a look at the comparable properties and see what level of finish they have. And you can see that the light great color, a clear giveaway that this was a recent fix and flip property. Here is the second property that also sold for a higher dollar per square foot. You can see the good staging, new fixtures, appliances, window, window treatments. So scrolling down we can see more examples of the properties that have been fixed and flipped, so barn doors. So this is definitely a good neighborhood for fix and flip activity. So that concludes the deal of the day video for today. I hope you enjoyed this video, please stay tuned for more.
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