• Real Estate Deal of the Day February 10, 2020

    Real Estate Deal of the Day February 10, 2020

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

    MLS Deal Property

    811 Red Bird Lane, Dallas, Texas 75232

    List Price: $158,600
    Bed/Bath/Pool/Stories: 3/ 3.0/1/1

    MLS Deal Finder Estimated Value:                            $232,886
    MLS Deal Finder Estimated Discount:                      $74,286
    MLS Deal Finder Estimated Discount%:                   31.90%

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    Real Estate Deal of the Day February 10, 2020

    [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.

    Welcome everyone to Real Estate IQ's Deal today for Dallas, Fort Worth Metro. Our Deal today has an MLS Number of 14242822. 811 Red Bird Lane, Dallas, Texas 75232. Current listing price of our Deal today is $158,600, ARV or estimated price is worth about $232,886, list price per square foot at $67.49, and estimated price per square foot is $99.10.

    We're looking at a very big and good potential deal with a discount percentage of 31.90% or if you convert them to dollars, that's going to be gross discount $74,286.

    We're looking at a three beds, three baths, single story residential property built in the year 1967, with a square feet of 2350. And I'll give you guys a few seconds to copy the agent's name and phone number, also the reviewed remarks of the agent. It says here: "Here's your chance to buy this ranch style fixer-upper in Dallas and conveniently located close to shopping ,parks, and major roads. This home requires serious rehab in order to make it move-in ready if you like to project, this could be it." So these are our impressions from our listing agent.

    Using Real Estate IQ's deal analysis and software, we are able to get 19 sold comps in the market. These are all basically priority to property type, price per square foot, distance, and recency. Out of 19, the system was able to find the best four, and these are based on a quarter mile radius search. So it's a bit spread out on the north and the south. The best comps are found in the South, Twin Falls Park.

    So with Real Estate IQ's software, this will give you a side by side design. It's like you're choosing from apples to apples with the best comps and a subject comp of your deal. So we have here price per square foot of $67.49 for subject property. Comps number 4,5,6, and 7 are the best out of the 19. We have this $101.65, the other one is at $85.73, $92.25, and $116.77.

    Comps 4 was sold 30 days ago, and it took around two months or 64 days for it to be sold in the market. This one here was sold for just 6 days. Followed by 62 and 42. I'll give you guys a few seconds to review and do a side by side comparison with the comps here.

    Going back to the investment detail, we're looking at a very big potential of $74,286. You also need to consider the cost of rehab or any fees involved and subtract that from this amount. And the listing price is $158.600. The whole property is under market value property and it's worth about $232,886.

    So Happy Deal Finding, everyone and you guys take care!

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