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Update: This property just sold since the recording was made.
List Price: $110,000
*Based on the following CMA: ARV- Subdivision
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This is Real Estate IQ’s Deal of the Day. And today we have found an awesome deal for you, in the DFW market.
Hello everyone, today is DFW Deal of the Day. Today, our subject property is at 5720 Geddes Avenue Fort Worth 76107. Looking at the details of it, it's listed at $110,000 and worth about $169,000. Its list price per square foot is $74.42 and based on the comp that I checked, estimated price per square foot is $114.36. So this property has 3 bedrooms, one bath, a carport. It was built in 1946 with 1478 square feet. So let's take a look at the map. So that we can also check the neighborhood. So we can grab, we can grab this little guy over here. All right. So yeah, this is our subject property and its neighbors.
So yeah, we're getting a lot of comps in the area, but we selected it, only 3. Based on the price per square foot, so ranging from $166. Then the distance, all the 3 are within a half mile. And the recency, though there is one, which was sold almost a year. But this doesn't make a big difference when it comes to the ARV. We will be removing this one. Yeah, there is just a 3000 difference. So yeah, let's, let's just leave it that way. Let's take a look at the photos. This is our subject property. You might need, you might be interested in doing some remodeling with the interior.
Let's check on the comps. The first comp, we have. All right, we're getting unscraped hard floors. Hardwood floor rather. A new window, updated window, stainless steel appliances, and a farm sink. All right, that's, this is already renovated. Very nice. So this is already updated, a fully renovated home. So let's go to the second comp that we have. As per the agent's remark, this house has a new roof. And, oh all right. This has a large backyard with a big lot, an entertainment area that would be good for family barbecues, or just for relaxing. Yeah, we're also having hardwood floors in some part of the house. White kitchen, you know, with a tiling splash back. And white as well when it comes to the appliances. So moving on to our last comp. Same with the two comps that we had we're getting hardwood floors. Oh, this is also renovated it looks already good. Alright, we have granite countertops. And this house is updated deck. So yeah, it's just good for relaxing or some other activities. And quite a large backyard as well. So again, in our subject property, you might be interested in remodeling the interior. Because this, with the sold comps that we selected it gives us an ARV of $247,519. Gives us a difference of or a discount of $137,518. So it's 34.92%. Well, it has a rental index of 1.22. Gives us a monthly lease price of $1,345. Well, this subject property is good for fix and flip opportunity. Well, that concludes the deal of the day video for today and happy deal finding everyone.
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