• Real Estate Deal of the Day January 9, 2020

    Real Estate Deal of the Day January 9, 2019

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

    MLS Deal Property

    3702 Noah Street, Houston, Texas 77021

    List Price: $89,000
    Bed/Bath/Pool/Stories: 2/1.0/0/1

    MLS Deal Finder Estimated Value:                            $139,895
    MLS Deal Finder Estimated Discount:                      $50,895
    MLS Deal Finder Estimated Discount%:                   36.38%

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    Map View

    Photo View

    Real Estate Deal of the Day January 9, 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.

    Hello, everyone! Welcome to our Houston Metros Deal of the Day. And today, we're looking at 3702 Noah Street, Houston, Texas 77021.

    Looking at the details of our property, it's currently listed at $89,000, with an estimated price or today's worth in the market at $139,895, list price per square foot of $93.00, and estimated price per square foot at $146.18.

    So if you can see, we're looking at a one-story with 2 beds, one full bath property, built in 1955, with a total square feet of 957. Looking at the neighborhood subdivisions and schools at South and Sunnyside Houston. The MLS data here are: MLS NUMBER, listing agent's name and phone number, as well as the public remark, which is more of the selling point over a property, personally noted by the listing agent himself.

    So let's take a look at the sold comps. If you can see there are 11 sold comps. And we have pre-selected sold comps here as the Real Estate IQ's most aggressive approach. When you run comps, we have after repair value or ARV per distance.

    Now, when you scroll down, we have 3 pre-selected sold comps highlighted in blue. If you can see our first sold comp, it's at 3626 Seabrook Street. It has a price per square foot of $37.33, with 0.07 miles from our subject property, and hundred 39 decency days. Looking at the second and third pre-selected sold comps, we have $166.67 and hundred $134.55, with 0.23 miles and 0.22, 93 and 135 recency days. When you scroll down, you're able to see here the MLS data or information of our pre-selected sold comps for our subject property, as well as the listing agent's names and phone numbers.

    Again, looking at the public remark, "This house is a two bedroom home with the garage converted into a great big room with lots of potential.".

    Let's take a look at the photos of our subject property. If you can see, the exterior part needs some renovations or repairs on the door and the walls itself. Looking at the interior, it needs to do some repainting on the walls, the ceilings, and hardwood flooring. Here is our kitchen with white kitchen cabinets. This is the other side that is carpet ready. But we might also want to apply some touches. And there is your tiled bathroom.

    So, here are also some photos of our pre-selected sold comps. If you can see, it has laminated hardwood flooring, repaired and repainted walls, and white kitchen cabinets. Let's see the exterior and interior of our second pre-selected sold comp as well. And our third third pre-selected sold comp has a huge open floor plan.

    So going back on the investment summary for our subject property, we have here again an asking offer price of $89,000, which we have an estimated price of $139,896. It gives us a generous 36.38% IQ discount percentage. We could say that our property here is good for flipping or wholesaling. You also have a generous rental index score 1.21. This is also a good property for buy and hold. You have suggested monthly lease of $1,072.

    Based on our discount percentage, you have 36.38%, giving you a gross or IQ discount of $50,895. So looking at the map view here, where the yellow star at, is where our subject property is currently situated. Your blue circles are pre-selected sold comps, and the gray ones are the rest of the sold comps. You can just drag and drop the Google man on where the yellow stars are, so you'll be able to see the Street View, as well as the neighborhood view of our subject property.

    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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