• Real Estate Deal of the Day August 14, 2019

    Real Estate Deal of the Day August 14, 2019

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

    MLS Deal Property

    1330 Biggs Terrace, Arlington, Texas 76010

    List Price: $109,500
    Bed/Bath/Pool/Stories: 3/1.1/0/1

    MLS Deal Finder Estimated Value:                          $172,917
    MLS Deal Finder Estimated Discount:                      $63,416
    MLS Deal Finder Estimated Discount%:                   36.67%

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    Real Estate Deal of the Day August 14, 2019

    [Video Transcription]

    This is Real Estate IQ’s Deal of the Day. And today we have found an awesome deal for you, in the DFW market.

    Thank you Steve, and to your audience. Thank you for tuning in to the Real Estate IQ Deal of the Day. Today we are in the DFW area more specifically in Arlington, and looking at a great potential fix and flip or buy and hold opportunity brought to us by the MLS Deal Finder system. Subject property address is 1330 Biggs Terrace in once again in Arlington in the 76010 zip code. And this property is presently listed at $109,500, and it's after repair value again once fixed up is $172,000 so that makes for a gross discount at about 37% or $63,000 off of the market value. 

    This single story residential home was built in 1953 and it's 1340 square feet in terms of size and it is a three beds and two bath or one, one and a half baths with the potential to be a two bed. Three bed, two bath as per the public remark stem below and does need some work. It's marketed as a fixer upper with major TLC. But let's take a look at the details for the surrounding area. And for that we've pulled up a property in the fast CMA tool. And here you can see our subject property and comparable properties in the surrounding area. But once again zooming out here you can see again, we are in Arlington, just north of highway 303 and west of highway 360 which is just south of the Six Flags and AT&T Stadium. Zooming in here, you can see our subject property at the center here and five similar or comparable properties, four of which we have chosen to keep for our Comps Analysis and one which we did not include which you see why in just a moment. But what we can do here is also drop right into the Street View on the map just to see our subject property and the surrounding area.

    So here's our subject property and it's our surrounding neighborhood. You can see on both ends of the street and kind of view the rest of the neighborhood there. So going back to the to the columns view here you can see our subject property again on the first column here, complete with all the details about square footage, bedrooms and bathrooms. lot size and all that, and you can see the four comparables that were selected for this analysis, most of which are in the same subdivision and the same school district and all built around the same time frame early to mid 1950s.

    But what is most interesting now? So take a quick look at the photos. So here's our subject property and you can see right away. There'swork that needs to be done all around, updates and repairs. Hard to tell what iif anything, needs to be done to the major items like the roof foundation and AC so for that, due diligence on site will be necessary. But at least here, we can look through the rest of the comparables, and you can see why we have not included comparable number one. It’s because it’s a little bit older. David, compared to the other comps, which we feature, more updates. More recent updates. You can quickly hover through all the photos here to see the nice hardwood-like or hardwood floors and stone countertops and the bathrooms here. So these are all good examples of recently updated homes, and you can see even on the appliances. They've still got the plastic coverings and stickers, so it's clear that many of these are recent rehabs that should give you a general sense of, if not of work that needs to be done, on the speed further due diligence on site is necessary. But in any case, I hope you enjoyed the deal of the day video for today. Please stay tuned for more.

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