• Real Estate Deal of the Day August 20, 2019

    Real Estate Deal of the Day August 20, 2019

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

    MLS Deal Property

    345 Cincinnati Ave, San Antonio, Texas 78201

    List Price: $160,000
    Bed/Bath/Pool/Stories: 3/2.0/0/1

    MLS Deal Finder Estimated Value:                          $232,950
    MLS Deal Finder Estimated Discount:                      $72,950
    MLS Deal Finder Estimated Discount%:                   31.32%

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    Real Estate Deal of the Day August 20, 2019

    [Video Transcription]

    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 your audience. Thank you for tuning in to the real estate IQ deal of the day. Today we are in the San Antonio metro area, looking at a great potential buy and hold the fix and flip opportunity brought to us by the MLS deal finder system subject property address is 345 Cincinnati Avenue in 78201 zip code and this property hit the markets. A couple months ago, but it's actually has undergone several price reductions. It was originally listed at $179,000 and it's now listed at $160,000 it has an estimated after repair value of $233,000 which makes for about a $73,000 gross discount or about 31% off of the market value. Subject property is a three bed, two bath single family residential property built in. And it is size at 1636 square feet. One thing to note, just looking at the public remarks is that this is being sold as is marketed as an investment property. So, we'll take a look at some of the photos, later on, to see what condition. It's in terms of the location here is our subject property just off of I 10. Zooming out, you can see it is in the northwest part of San Antonio pretty close to downtown area. Zooming in here you can see our subject property and be comparable properties. This is the five, excuse me, the five points subdivision and dropping into Street View. Here we can see a representation of the neighborhood here so Surrounding properties actually is quite a few properties in this neighborhood that have been fixed and flipped recently.

    And now we can take a look at the details for the properties and comparable properties. So, here's our subject property. The first column here price that $97 and 80 cents per square foot. It is part of again the five points subdivision and part of the San Antonio I.S.D. and you can see all the details here three bed, two baths. Single story, lot size 0.7 acres and for the comparable properties. We've selected here they are all in the five-point subdivision. There's a lot that pulled up in the Beacon Hill subdivision, but it's on the other side of a major Street. So those have not been included. So, another five points here five points all built around the same timeframe, which is early 1900s. And all around three bed, two baths. So, let's take a look at the photos. So again, our subject property is being sold as is and not surprisingly, there aren't many photos to go off of. So, it looks like there has been some work done already. It's just not completed yet whether this was done by another investor, the homeowner seems to be more likely, like it was done by the homeowner and unfortunately, based on the lack of photos some further due diligence on site is necessary, but here we can see we did not include comparable number one, as it is also in somewhat of an unfinished condition. But the other comparables Are recent remodels as you can see here same with comparable number seven, for sure, but comparable number five, although it was not recently remodeled. It is in fairly good condition. So, we've included that in the comments as well. It's got new stainless-steel appliances and all that and hardwood our hardwood floors all throughout the house. So that gives you a general sense of the amount of work that's really the end goal for the rehab. As far as the total amount of work some further due diligence is necessary, in any case, that concludes the deal of the day video for today. I hope you enjoyed this video, please stay tuned for more. 

    So if you want to learn more about what a good real estate deal looks like, make sure you come to our monthly training. Every month we are throwing several events in each metropolitan area near you. Make sure you follow the link below to register. Basically what we do at the event is that you know, we will show you how to analyze deals and how to find deals and most importantly what's really cool is that we use the system to find a good real estate investment deals that you can bring home and do more homework on. And so make sure you come to these deal finding training. It's gonna be a really good educational event for you. Also, there are all kinds of networking opportunity at the events as well. So we look forward to seeing you there.

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