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Update: This property just sold since the recording was made.
List Price: $99,000
*Based on the following CMA: ARV- Subdivision
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This is Real Estate IQ’s Deal of the Day. And today we 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 Austin metro area or I should say the greater Austin area, looking at a great potential fix and flip, or buy and hold, or potentially a vacation rental property brought to us by the MLS deal finder system. Subject property address is 205 Golf Course Drive, this is in Spicewood, and that's in 78669 zip code. So the property is listed for $99,000 and based on a sold comparable that we've pulled up here, we are looking at an after repair value of about 162,000. So that makes for a gross discount of about $63,000 or 39% off of market value.
So, taking a look at the map, we can see we are right off of the Colorado River here. And this is in Spicewood, so west of the Austin area. So here is Austin. I guess Northwest to the Austin area. And zooming in here, we can see the sold comp that we've pulled up in the same area. And what we can do here is drop into Street View. Actually, there's no Street View in this particular area of Google Maps, we can try down here. Nope. So what we can do is take a look at them, definitely take a look at the photos of the property and the comparable property. Tell us a bit more about the interior. But before that, we can take a look at the stats for these properties. The subject property again is in the Spicewood area. It's in the Spicewood Beach subdivision. And we've pulled up a comp here, also in the same subdivision. It is a built in the 1965 timeframe, and similar to the comp here that we've pulled up. Square footage wise, it's about 1064 square feet. Our comparable property is 1024. And we can see the lot size for the subject property is 0.5 acres and the comparable property is 0.3 acres. So taking a look at the photos, we can see a nice riverfront view here. And then the subject property, which does look like it does need some siding work. The interior here is just a bit dated, but although it looks like it is reasonably well-kept.
Looking at our sold comp, we can see a similar story. Something that is a bit dated on the interior, but a bit more well kept on the exterior as well. Also a property with great river access from the look of it. 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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