• Real Estate Deal of the Day August 22, 2019

    Real Estate Deal of the Day August 22, 2019

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

    MLS Deal Property

    1704 Pinky Way, Houston, Texas 77015

    List Price: $59,800
    Bed/Bath/Pool/Stories: 3/1.0/0/1

    MLS Deal Finder Estimated Value:                          $132,624
    MLS Deal Finder Estimated Discount:                      $72,824
    MLS Deal Finder Estimated Discount%:                   54.91%

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    Real Estate Deal of the Day August 22, 2019

    [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.

    Thank you, Steve. And thanks, everyone, for tuning in today's Houston deal of the day is 1704 pinky way. 77015 and the remarks about it states and investors special needs interior and exterior repairs. These call agent. So, it's listed at 59,800 the originally listed at 64,500 and also has 92% price reduction to get to the 59,800-price camping in about 132. So, it's listed at about 46.90 square foot and capping about 104 per square foot rental indexes 2.1 with $1273 estimated monthly weeks, so that makes it a potential flip or buy and hold. It's a three-bedroom, one-bath, one-story, built in 1950 at 1275 square feet. MLS NUMBER 81851585. Alright so here are the numbers that 59 800 that's 72,000 that you would have difference to do your rehab pay your closing holding costs and get your profit. So that's a 55% discount almost alright so let's take a look. The map here first. So, you can see here's where all of the comps are and this one. Number four is super close. I'm going to zoom in a little bit. Okay. Just wanted to make sure none of these were backing up here to the hunting by you. So that would definitely change the value. And so, we may or may not want this to be considered as comps, three and five are across what looks like in the main road that those are Richardson by the computer. Anyway, so just these dark blue ones were so this one I Nancy drive this one on Janey Street. Yeah, and this one on Coulson Street. Alright, so let's take a look at those. And here's the comps, the ones in blue, that the computer chose us the best, most recent ones and these ones were a little longer. In the past, so you can see that this one was listed for 136 nine and sold for 137 after only six days on the market. So that's really good news. This one was 20 days ago. So, this one was a little more recent and it's so for the asking price of 135 after just 24 days on the market. So those low days on the market is definitely good news someone's listed at 105 and sold for 118. So, they're definitely getting good prices and low days on market. So, let's take a look at the pictures and see what those look like here. Here's our subject property looks like somebody started to do some work on it. And then stopped. So, whether this is a deal or not, might very well depend on exactly what repairs they have or have not done until here's a window air conditioner. So, it's probably going to, you don't want to put in central air, especially if you're going to flip it. I definitely see some outside siding work. Likely a roof, but that's all the pictures, give us. So, you're definitely going to want to take a look. And as I said, so here's one of the comps and see how they fix this one up. Nice and property in front. Looks like probably laminate flooring. And Nice neutral colors tile. Was kind of a little fancier sink in the bathroom. Kitchen nice granite basic white cabinets. Nothing fancy, but nice. So, but you probably want to fix yours in the same way. Let's take a look at these. This one bedroom looks like it was fixed up on the outside. It definitely looks like they did some work going inside though. The kitchen similar granite, this one has a tile backslash overmount sink. I'm not sure what's going on with that one. Ideally, you'd want an under-mount sink with, especially with the granite countertop. Simply stove next to the refrigerator. That's interesting. Not quite the best work triangle. Right. And let's take a look at one more. That's the same one. Sorry about that. This one. As you can see both of these hedges’ carports in the front. I know garages so that one's got a little fancier backslash same basic granite with under-mount sink again. Looks like a new appliance and this one looks like it was. Extend to flip maybe. There's a nice tile in the shower and so much more about the bathroom. Nice big backyard with a nice little shed there on this one. Alright, so, and just take a quick look at this one. This one looks a little bit nicer with those marble look countertops. The subway tiles. So, but again just basic run of the mill sinks. Nothing super fancy in this one either. So Again, potential fix and flip or buying hold. So as always, make sure you do your own due diligence. But thanks for listening and happy investing,

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