• Real Estate Deal of the Day February 13, 2020

    Real Estate Deal of the Day February 13, 2020

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

    MLS Deal Property

    3018 Darling Avenue, Pasadena, Texas 77503

    List Price: $65,000
    Bed/Bath/Pool/Stories: 3/ 1.0/0/1

    MLS Deal Finder Estimated Value:                            $125,970
    MLS Deal Finder Estimated Discount:                      $60,970
    MLS Deal Finder Estimated Discount%:                   48.40%

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    Map View

    Photo View

    Real Estate Deal of the Day February 13, 2020

    [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.

    Welcome to our Houston Metro Deal of the Day. And today we're looking at 3018 Darling Avenue, Pasadena, Texas 77503.

    So looking at the details of our property, it's currently listed at $65,000, estimated price would be $125,970, list price per square foot is at $57.52, and estimated price per square foot is at $111.48. So this was listed just recently on the eighth of this month.

    Looking at the physical characteristics of our property, we're currently looking at a one-story with three beds, one full bath, and one car garage property built in 1950 with a total square feet of 1130. The neighborhood, subdivision, and schools at Deepwater Subdivision, Deepwater Elementary School, Deepwater Junior High School.

    You have your MLS information here. Your MLS number, as well as your listing agent's name and phone number with the public remark noted by the listing agent Deborah herself. "Investors special in Deer Park sold as is. No repairs will be done. Owner has not lived there in about 30 years."

    Let's take a look at our subject property. Need some renovation on flooring, walls, ceilings, and even the kitchen cabinets and storage as well. Now, we have here a total of 18 sold comps. On our first pre-selected sold comp at 3108 Darling Avenue, 0.06 miles from or subject property, this was sold last 52 days, price per square foot of $110.38, only 53 days in the market, with a total square feet of 1090. Second selected sold comp is at 3311 Darling Avenue. Price per square foot of $97.78, distance is 0.33, and 111 recency days. Third sold comp is at 2811 Camille Street, price per square foot of $128.05, distance is 0.34, and 87 recency days. Fourth comp would be at 3301 Chestershire Dr., price per square foot of $109.70, 0.46 miles from subject property, and 163 recency days. They have 1148 and 1185 total square feet. You also have your MLS data for your sold comps.

    So let's go back and check the photo view of our selected sold comps. Here is your first sold comp: laminated hardwood, tiled and carpet flooring, white kitchen, and wooden kitchen cabinets. For your second sold comps: tiled flooring and kitchen cabinets. Third sold comp has one car garage property, tiled flooring, and wooden kitchen cabinets. And your last selected sold comp: kitchen with white wooden cabinets.

    Now going back to our list view, you have the map view here where the yellow star is, that is where your subject property is currently situated. The blue circles are your selected sold comps. So just like Google Maps, you can just drag and drop the Google man.

    Looking at the figures, your subject property is listed at $65,000, estimated of $125,970. It gives you a 48.4% IQ discount percentage. Based on your selected sold comps, it also gives you a 2.05 rental index score. And from the IQ discount percentage of 48.4% it gives you about $60,970 gross discount. So we can say that our property here is good for flipping or wholesaling, or even for buy and hold.

    So as always, thanks for tuning in. And that's it for our Deal of the Day. 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.

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