• Real Estate Deal of the Day January 30, 2019

    Real Estate Deal of the Day January 30, 2019

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    MLS Deal Property

    10419 Yorkford Drive, Dallas, Tx 75238

    List Price: $ 324,900
    Bed/Bath/Pool/Stories: 4/3.0/N/1

    MLS Deal Finder Estimated Value:                             $491,652
    MLS Deal Finder Estimated Discount:                        $166,752
    MLS Deal Finder Estimated Discount%:                    33.92

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    Map View

    Photo View

    Real Estate Deal of the Day January 30, 2019

    [Video Transcription]

    Hey this is Steve Liang and Sidney Sum here with Real Estate IQ and today we found a real estate deal of the day here in the Dallas, Fort Worth area and we want to share it with you. Check it out.

    Hey everybody, this is Steve Liang with Real Estate IQ and today we found a deal for you in Dallas, Texas. The address is 10419 Yorkford Drive in Dallas, Texas, 75238. It has been on the market for 93 days. And after analysis, we're seeing a big discrepancy between the asking price and the estimated ARV after repair value. There's a big difference here of over $166,000 of potential discount and amounts to 3392, 33.92% discount. So this looks like a very interesting deal for us, and let's show you the analysis. Here's our subject property, by just looking at the remarks we can already see a, that this is a fixer-upper opportunity. If you guys look at the very last line of the public remark, the property is priced accordingly. And this is a, upper, fixer-upper opportunity. We're going to also see the condition of the interior of the property and you're gonna see why it's a, it's a, it's a fixer-upper type of deal. Okay, and another thing we're looking at is the price per square footage. And comparing to the comps that we have chosen, we're seeing a big discrepancy here. This subject, property is priced at $141.51 per square feet and all the comps are either over $200 per square feet, or pretty close to it.

    We can also examine more information about these properties, how close they are. All of these properties are within a quarter mile away from the subject property. Make sure you use the fast CMA tool to pull up this screen yourself and you can also analyze the properties a little bit further. We're gonna move on and look at the map view. So this is a perspective from the top down and we're seeing the property. The subject property is right here surrounded by, it's 4 comps and these are very close comps. Zooming out a little bit further, we can also do a street view to check out the neighborhood. And check it out, we are in the back. And look at here. All right, so this is the subject property here with the black symbol. And this is what the neighborhood looks like. Looks to be relatively well-groomed area and we also check out the comps, very similar neighborhood.

    Again with the tool, you can peruse this a little bit further. Next we want to show you the interior photos. This is a comparison of the interior so we can have a very good idea of what the property currently looks like and what it needs to look like from a comp standpoint. So this is our subject property. It's a little bit dated, a lot of opportunities here, for improvement. And these are the comps. So you can see that these have a pretty high-end upgrade. This is the other comp and these are, this is the comp, the third comp and this is the last, the fourth comp that we chose. This, as you can see the, the condition is slightly less and the price per square footage, if you remember from the data screen, is this, this one is under $200 per square foot. So that's what we have chosen. You know, everybody is, comps is very subjective, so you may decide to not use no. 12, that's going to bring up your estimated ARV up here. But we're seeing a pretty big potential in coming in, fixing up this property, upgrading it, and extracting the value. So we see this as a very high potential opportunity. We hope you guys enjoy this deal. This is Steve Liang again, with Real Estate IQ. We're number one in deal finding. Thank you very much.

    I want to invite you to my weekly Real Estate Talk, every Monday and Wednesday at 6 PM. This is an online event so you can join anywhere. But every Monday and Wednesday at 6 PM, I would invite a successful Real Estate entrepreneur to join us and we will interview them and they're gonna share with us their entrepreneurial journey, and you know what they think is what made them successful. I think you will find a lot of really cool stories there, and more stories you know as entrepreneurs we always want to learn from other people what their experiences have been. It's gonna help us be a lot smarter. We'll also talk about anything in real estate. For example, we do real estate deals market update, to kind of talk about a general market real estate market in general and you know where the deals are coming from and all that good stuff. So a very interesting Real Estate Talk. Make sure you join us!

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