• Real Estate Deal of the Day July 08, 2019

    Real Estate Deal of the Day July 08, 2019

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

    MLS Deal Property

    11803 Rowood Drive, Houston, Tx 77070

    List Price: $116,000
    Bed/Bath/Pool/Stories: 3/2.0/1/1

    MLS Deal Finder Estimated Value:                          $182,971
    MLS Deal Finder Estimated Discount:                      $66,971
    MLS Deal Finder Estimated Discount%:                   36.6%

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    Real Estate Deal of the Day July 08, 2019

    [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.

    Happy Monday, everyone! Today's Houston deal of the day is 11803 Rowood Drive in 77070. Now that is in the northwest part of Houston, just outside of the beltway by the Willowbrook area. And if we take a look at the details here, it's listed at 116,000 and I'm comping it in 182,000. That's a $66,000 discount or at 36 almost 37% discount. The rental index is also 1.4 as it will lease for $1,637. So, could be a possible flip or a possible buy and hold. It's a 3/2.0 with a pool and a fireplace ranch, built in 1973 with 2009 square feet. So other than the pool, that's a perfect rental. 

    Remarks say it's a 3-bedroom, 2-bath home with good curb appeal. Just minutes from 1960, 290, 249 and Beltway 8. Great den with wood burning fireplace. Carpet, laminate wood, and tile flooring. Cozy kitchen, 2 pantry areas. Has both breakfast and formal dining. Great backyard with large wooden deck and in-ground swimming pool. Come see today. So let's take a look at the pictures here. There's the front that looks pretty nice, although there are some issues in the driveway. You might need to put a coat over. This one looks pretty nice. Although, if you look at the floor right here, it looks like there might be some issues with that laminate flooring. It might need to be replaced. That's just a little outdated with the mirrors, but not bad. The kitchen looks nice. It's got granite countertops, based in that picture. This room has no floor. Not too bad there. That shot of the bathroom doesn't look too bad. Definitely a little paint. I think that's carpeting. Who knows what kind of shape that's in, same here. Definitely paint. There's little laundry nook. Now, that is the big unknown, right here. This is the thing you'd have to get a professional to look at. And because what this pool needs, it's what could determine, whether this is a deal or not. There's the rest of the backyard looks like fencing issues. That doesn't look too bad. And hard to tell, this part looks bad, but you might be able to refinish it and keep it. All right, let's take a look at the comps. 

    Now this property right here, sold for $91 a square foot versus our $57.74. It's in the same subdivision, sold 104 days ago. Days on market is NA. So that means the data must not have been clear the way it was entered in the MLS. But it's also a 3/2.0. Also has a pool and says, beautiful home with a backyard retreat. Has been updated yada, yada. Let's look at the other comps. These ones all sold quite a while ago. Oh, here's one that sold 67 days ago after 39 days on the market. And this one sold 101 days ago after only 12 days on the market. And they're both right in that 90, $91 a square foot range. On the remarks, this one says completely remodeled and never flooded. With custom features and updates. And if we look at the pictures of those we will see that they are also pretty, pretty nicely done. So you'd want to take a look at those pictures yourself, let's just look at one of them real quick. Nice little pool. I do like that backyard. I could spend some time there, got an orange tree. Nice little garden. 

    Interesting fireplace. Nicely remodeled kitchen. I wonder if the deer heads came with it. Wow. This person is a hunter. Interesting mosaic tile in that shower, nice walk in closet. The bedroom looks nice. Nice granite in that bathroom as well. So you probably want to fix your house up similar to that. 

    Although this one already has the kitchen. This one's a little bit nicer, a little bit more modern. The flooring, the bathroom fixtures. Although it did bring about the same price. So you want to keep that into consideration. You can do it nicer, but it might not get you any more profit. 

    So as always, make sure you do your own due diligence. But thank you for listening and happy investing.

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