• Real Estate Deal of the Day January 15, 2020

    Real Estate Deal of the Day January 15, 2020

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

    MLS Deal Property

    5720 Geddes Avenue, Fort Worth, Texas 76107

    List Price: $110,000
    Bed/Bath/Pool/Stories: 3/1.1/0/1

    MLS Deal Finder Estimated Value:                            $170,962
    MLS Deal Finder Estimated Discount:                      $60,962
    MLS Deal Finder Estimated Discount%:                   35.66%

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    Real Estate Deal of the Day January 15, 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.

    Hello everyone and welcome to Real Estate IQ's Deal of the Day for Dallas-Fort Worth Metro. Our Deal for today would be at 5720 Geddes Avenue, Fort Worth, Texas 76107. 

    Let's look at the details of this property. So currently, it's listed in the market at $110,000, it's worth about $170,962, list price per square foot is $74.42, and the estimated price per square foot is $115.67.

    We're looking at a three beds, one and a half bath, one-story residential property, built in the year of 1946, and with a square feet of 1478.

    The MLS number for our Deal of the Day would be 14053136. We're looking at a very good discount index percentage of 35.6%. If we convert them to dollars, we're getting a gross discount of $60,962. Now, this will be the public remarks of our listing agent, which is Clinton Gober, and this is his phone number.

    Alright, now let's look into the investment summary. So as you can see here with our software, we have a big discount percentage or gross amount of $60,962. These are based on our current comps in the market. Real Estate IQ portal will give you information to the current comps based on the MLS. Now, let's take a look with the map here.

    What we're doing right now is that, we're looking at the map and use a half a mile distance radius search for us to look into the closest comps in the market, and we're looking at 150 days or five months. This is our subject property and let's run this closer.

    The one with the star is our subject comp or Deal of the Day and its neighborhood. If we go back to the map, we have a half a mile radius which is not that far from our subject comp; pretty close a few blocks away. Using Real Estate IQ’s software, it will show you table design to help you choose from apples to apples, when you make comparisons with the other comps in the market.

    So the one on the left side, that's highlighted in yellow, this is our subject comp or Deal of the Day. Price per square foot is $74.42. The best comps we have are $103.85, $58.46, this one is $36.48, the other one is $201.10, and $178.47. I'll give you a few seconds to look into the details, so that we can do a side by side review on the comps we have in the market. And this would show the MLS numbers of the other comps that we have and the remarks as well.

    Now let's have a few seconds here and check what's inside this property based on the listing agent. This definitely needs some update and some cleaning, the kitchen does also need a big makeover and update the walls as well. The bathroom and the kitchen. Those are the pictures from the listing agent. Let's check out the photos of the other sold comps in the market. The comp number 1 is pretty decent and with wooden floors. Let's check the other ones. This was sold in a lesser amount and needs some big update and restoration here. And the comp number five is in good condition.

    Alright, so going back with our investment summary with our sold comps, these are all the priorities based on the property type, price per square foot, distance, and recency. Real Estate IQ's software will give you the current comps in the market and you do also have a way to arrange or have your own preferred criteria with these tools.

    And don't forget, always do your diligence in Deal Finding. This is the Deal of the Day for Dallas-Fort Worth Metro. And also, I would like to invite you to our new website at Realestateiq.co. If you own a business, have lending businesses or investors, or own any Real Estate related businesses, you can sign up and register to our marketplace by clicking on "sign in", or register and this would lead you to all listings posted on our website. I invite you to take a look with this website and give us a ring. Alright! You guys take care and happy Deal Finding! Have a nice day!

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