• Real Estate Deal of the Day – April 27, 2020

    Real Estate Deal of the Day April 27, 2020

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    Update: This property just sold since the recording was made.

    MLS Deal Property

    12650 Ridgecrest Drive, Willis, Texas 77318

    List Price: $105,000
    Bed/Bath/Pool/Stories: 3/2.0/0/1

    MLS Deal Finder Estimated Value:                            $200,591
    MLS Deal Finder Estimated Discount:                      $95,591
    MLS Deal Finder Estimated Discount%:                   47.65%

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    Real Estate Deal of the Day April 27, 2020

    [Video Transcription]

    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! Welcome to another Houston Metro's Deal of the Day. And today, we're looking at 12650 Ridgecrest Drive, Willis, Texas, 77318.

     

    Looking at the details of our property, it's currently listed for $105,000, with an estimated price or today's worth in the market at $200,591. List price per square foot at $58.99, and with an estimated price per square foot of $112.69. If you see, this was listed on the 15th of this month.

     

    We're looking at a one-story property with one fireplace, three beds, two full baths, and two car garages, built in 1980, with a total square feet of 1780.

     

    The neighborhood, subdivision, and schools at Lake Conroe Hills: West Lloyd Meador Elementary School, Robert Brabham Middle School, and Willis High School. MLS information here with your listing agent's name, phone number, and public remark, which is personally noted by the listing agent.

     

    Now let's take a look at our property. Here is the exterior. It's already rehabilitated, but it's still a good catch. Let's try to take a look at the figures shortly. So there's your fireplace, your living area, kitchen with white wooden kitchen cabinets, as mentioned, and an open family room.

     

    Now, looking at your two best sold comps, the first one has carpet flooring, kitchen area, tiled flooring, and dining area. The second best sold comp gives you a hardwood laminated flooring. 

     

    Looking at the list view with our two best sold comps, the first one is at 12632 Hackberry Drive, with $113.11 price per square foot, 0.06 miles from our subject property, and 155 recency days. The other one is at 13356 Lake Breeze Lane, $112.27 price per square foot, 0.26 miles from our subject property, and 117 recency days. Total square feet for the subject property is 1780. For the two best sold comps, we have 1724 and 1719.

     

    Alright! We're looking at $105,000 asking or offer price, with an estimated price of $200,591, gives you a 47.65% IQ discount percentage, which is best for flipping or wholesaling. This way beyond the median score or a discount percentage. It also gives you about $95,591 for your gross discount, also great for buy and hold and have it for lease. And you have a rental index score of 1.39.

     

    Now, looking at the map view, where your yellow star is, that is where your subject property is currently situated. So just like how Google Map works, you can zoom it in and just drag and drop your Google man and then you'll have a full 360 view.

     

    As always, we don't want to miss a very good deal for flipping and wholesaling. Not much renovation needed. So thanks for tuning in and happy Deal Finding, everyone! Stay safe.

     

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