Get more deals like this post: Sign up for our exclusive Daily Deal of the Day Publication so you can receive a notification as soon as a fresh deal is published.
List Price: $ 219,900
Check out our event schedule
Good morning Austin & San Antonio! This is Steve Liang and Joseph Sun de la Cruz with Real Estate IQ. And we found a really good real estate deal of the day in the Austin, San Antonio area and we want to share this with you.
Thank you, Steve, and to your audience, thank you for tuning into the Real Estate IQ deal of the day. Today we are in the Austin market looking at a buy and hold or potentially a fix and flip opportunity brought to us by the MLS Deal Finder system. The subject property address is 1107 Weatherford Drive in 78753 that's in Pflugerville. And it is a 3 bedroom, 3 bathroom property just listed end of last week. It is listed at $219,900, but the estimated after repair value is 283,000. That makes for about a $63,000 discount or just about 22% off of market value. So the subject property is again, once again built in 1988. It's 2,200 square feet, a 3 bedroom, 3 bathroom. So that price is at about $100 per square feet, which as you can see here, we have pulled up the subject's sold comparables, which is pulled right off of the MLS.
And for all the comparables, we are looking at the Harris Ridge subdivision and you can see here for the properties that we have selected, they are within a close tight radius in terms of proximity to the subject property. They're all built around the same timeframe or had the same size. You will see that quite a few of them are 4 bedroom, 3 bathroom properties, which is interesting because our subject property is actually a significantly larger in square footage compared to some of the 4 bedroom 3 bathroom property. It makes me wonder whether or not there actually are four bedrooms given that size of the house. Because if that is incorrectly listed as a 3 bed instead of 4 bedroom, then there is a potentially some more value there or potentially less eyes looking at this particular property. So I'm looking at the map now. We can see the subject property located right here, off of Howard Lane. And the comparable properties all in the Harris Ridge subdivision as well. Zooming out, you can see where in relation to the Austin city center we're located. And again, it's in Pflugerville. So just north east of the downtown Austin area and zooming in, what we can also do is drop into street view to get an idea of the overall feel of that neighborhood.
So here's our subject property right here and a park, right what looks to be like a park street and of course what's most interesting to us as well is the condition of the interior. For that we can take a look at the photos and overall it actually looks to be in decent shape and just needing some updates here with a laminate countertops and just builder level finish for the, the cabinets, the base cabinets. Let's take a look at the other photos here. For the bathroom, actually the bathroom looks to have some good updates already. Let's take a look at the comparable properties now as well. So we can see comparable properties are in actually kind of similar condition perhaps a bit more updated in terms of the, the flooring and the paints for some of them. But the kitchen is in similar condition.
What we can also do is check the remarks to see what has been stated in here. It says that the HVAC was replaced in 2017, ductwork replaced in 2017 as well, a recent stainless steel appliances. So it actually looks like there's not too much work here for a buy and hold scenario, this is already a look, looking like it's rent ready. Obviously that needs to be, that needs to be verified with further due diligence and inspection. But from a buy and hold perspective, this property would lease out for about $1,800 a month based on the leased comps. And from the fix and flip scenario obviously, it looks like there's not too many updates that need to be done. Just in the way of flooring and updates in the kitchen. That is at least to bring this up to the standard of the comparable properties. So, the only thing that's left to verify is again, whether or not this truly is a 3 bedroom instead of a 4 bedroom property based on its large square footage. So that concludes the deal of the day video for today. I hope you enjoyed this video. Please stay tuned for more.
Okay, I wanna bring your attention to our webinars. What happens is, if you're into real estate deal finding analysis or marketing, or how to grow your business in general. We have a lot of webinars that we have created for you. And you can watch those live by simply following the link below, and register for one of the topics that may interest you. Please enjoy them.
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.