• Real Estate Deal of the Day February 11, 2020

    Real Estate Deal of the Day February 11, 2020

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

    MLS Deal Property

    554 IRA LEE RD, San Antonio, Texas 78218

    List Price: $312,500
    Bed/Bath/Pool/Stories: 3/ 3.0/0/2

    MLS Deal Finder Estimated Value:                            $446,772
    MLS Deal Finder Estimated Discount:                      $134,272
    MLS Deal Finder Estimated Discount%:                   30.05%

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    Real Estate Deal of the Day February 11, 2020

    [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.

    Hello everyone! Today is San Antonio Deal of the Day. Our subject property for today is at 554 Ira Lee Rd., San Antonio, TX, 78218.

    Looking at the details of this property, it's currently listed at $312,500, worth about $446,772, it has a list price per square foot of $121.69. But based on the comps of the area, its estimated price per square foot is $173.98.

    So this two-story property has three bedrooms, three bathrooms, and was built in 2000, with 2500 square feet.

    So the one with the yellow star, that is our subject property. We can also zoom it in and grab this little yellow guy for us to see even the exterior of the property. A good tool for you to check the neighborhood as well.

    Alright, so let's take a look at the comps. So currently, the system found four sold comps in the area. They were selected based on the price per square foot, the distance, the recency, and subdivision. Pretty good distance. All are within a half mile.

    Our properties selected are one-story and  the other one is two-story, but there is no big difference when it comes to price per square foot and has a good recency as well.

    So here are the photos of our subject property. It gives us an idea if it's fully renovated or not. Now let's take a look at the photos of our sold comps. Kinda has the same features with our subject property. Wooden cabinets, marble or granite countertops, and lighting fixtures. It will give us an idea if there is a need for us to remodel the property for it to be sold. Here are two photos of the second comp; looks good. Hardwood floor, granite countertops, wooden cabinets, and stainless steel appliances. Here are two photos of the last comp selected; looks neat and has wooden cabinets as well.

    Alright! Those are the photos of the comps selected. Based on the three comps selected, we are getting an estimated price or after repair value of $446,772. Coming from our list price of $312,500, we are getting an IQ discount of $134,272, that's 30.05%. We're also having a rental index 0.81 or an estimated monthly lease of $2,519. Based on the photos that we've seen, you might be interested in doing some remodeling. But this property could be good for fix and flip strategy.

    Alright, so that's the Deal of the Day video for today. And Happy Deal Finding, everyone!

    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.

    DISCLAIMER: INVEST AT YOUR OWN RISK. DEAL FINDER LLC DISCLAIMS ALL RESPONSIBILITY FOR ANY LOSS, INJURY, CLAIM, LIABILITY, OR DAMAGE OF ANY KIND RESULTING FROM THIS BLOG SITE; DEAL FINDER LLC SHALL NOT BE LIABLE FOR ANY SPECIAL, DIRECT, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING, WITHOUT LIMITATION, ATTORNEYS’ FEES) IN ANY WAY.

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