• Real Estate Deal of the Day August 21, 2019

    Real Estate Deal of the Day August 21, 2019

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

    MLS Deal Property

    6508 Tempest Drive, Arlington, Texas 76001

    List Price: $155,000
    Bed/Bath/Pool/Stories: 4/3.0/0/1

    MLS Deal Finder Estimated Value:                          $252,770
    MLS Deal Finder Estimated Discount:                      $97,770
    MLS Deal Finder Estimated Discount%:                   38.68%

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    Real Estate Deal of the Day August 21, 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.

    Hello everyone, today is the DFW deal of the day and our subject property for today is at 6508 Tempest Dr. Arlington 76001. Looking at the details the property, it's listed at 155,000 and worth about 252,770 and it has a list price per square foot of $84.88 and based on the comps in the area. It's estimated price per sq. foot is $138.43. So, this one-story property has 4 Bedrooms, 3 Bathrooms, and 2 garages and was built in 1986 and with a square foot of 1826. So, it has a fireplace. So, looking at the comps, the system found 38 sold comps in the area. But normally, the system will be selecting four or five comps. So, let's take a look at the comps. So, we're getting a number of comps. So, the ones highlighted in blue. These are the comps selected by the system. So, let's go back. So, number one, two, and three were not selected, mainly because of the recency so they were sold. More than two days ago. So that's really up to 300 days are still good comps, but these comps are not connected because the system was able to find better comps with really good recency. So, the first selected comp: It has a price per square foot $137.91 sold 27 days ago and on the same subdivision. Pretty good distance as well. Second comp almost the same with the first comp sold 10 days ago. Within 3 months and with a price per square foot hundred $36.72 on the same subdivision as well. The same with third comp, the fourth, and the fifth comp. So, all selected columns were sold within three months. So, we can also take a look at the photos. So, we only have one. I mean one photo for or subject property. Then let's take a look at the photos of our so comps. So, here's our first sold comp. Alright, looks nice. They renovated it. The counter, the cabinets as well. Now moving on to our second comp. Looks neat. All right, we're getting a stainless-steel appliance. The cabinets as well. Already renovated. Now, moving on to our next comp. Pretty much the same features with the other sold comps. Ceramic tiles. Renovated as well. Alright, that looks good. Stainless steel appliances and the last two comps we have. Alright. So, the last comp is getting stainless steel appliances as well. So, all this whole comp is already renovated and based on the sold comps selected. So, it gives us an ARV of 252,771. So that's a 38% or 38.68%, to be exact, a discount or $97,770 so we're also getting pretty good rental index 1.28. Or that's a month lease of 1986 so this property is good for flipping since we're getting up really good discount and also for a buy and hold with a rental index that we have. So that ends the deal of the day video for today and happy deal-finding everyone.

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