• Real Estate Deal of the Day July 11, 2019

    Real Estate Deal of the Day July 11, 2019

    https://youtu.be/vGIgt3hmTag

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

    MLS Deal Property

    1711 Wynn Terrace Arlington, Tx 76010

    List Price: $95,000
    Bed/Bath/Pool/Stories: 3/1.0/0/1

    MLS Deal Finder Estimated Value:                          $156,764
    MLS Deal Finder Estimated Discount:                      $61,764
    MLS Deal Finder Estimated Discount%:                   39.4%

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    Real Estate Deal of the Day July 11, 2019

    [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.

    Today is Real Estate IQ Deal of the Day. Our deal of the day is found at 1711 Wynn Terrace Arlington, Texas 76010. Let's look at the details. This property has a list price of $95,000 with an estimated price or ARV of $156,764, with the square or the price per square footage is at $76.12. This property has a rental index of 1.4 and an estimated monthly lease of $1,304. 

    Other than that, the property has a feature of 3 bedrooms, one bath. This is one story, residential single detached house, built in 1955. So other information can be seen here, such as the square feet or total square feet, the acre, as well as the MLS information, is right here. And if you are interested in this property, you can contact the agent name Robin Alexander with his number over here. Right. And based on the public remark, it is a 3-1 being sold as is. Perfect investment property opportunity. It's a, needs domestic or I mean needs cosmetic make ready. Multiple offers received. Best and final by Wednesday. 

    Here's the date I think at 12 noon. So based on its description, this can be, the property is good for fix and flip. So, we will look at the picture later. Alright, so looking at the comparables here, within 90 days recency of the comparables, we got a total of 13 sold properties in that area. 

    And 5 active or 5 properties are actively for sale at the moment. Six are being leased and 3 properties are not active or taken out of the market for some reason. Here are the comps that we have and we selected or pre-selected 4 properties out of those 13 sold properties in that area or subdivision. So we selected property number 2, number 7, number 9, and number 12. Why is that? Again, we based it on the following criteria such as property or comparable should have a higher price per square footage than the subject property. Second, the distance is actually at least between, I mean half a mile or less that will be good or the closer the better. The third is the recency, or when was this property sold. So this property was sold 52 days ago and the rest of the comparables that I selected were sold less than, within, I mean less than 90 days ago. Then, other than that, we go to the remarks. So comparables that we need to look at are those that were remodeled, so there's a description here that this was remodeled. 

    Remodeled or it was fixed or there were improvements that we're done on the said property, for us to use it as a comparable. So there you go. So selecting these 4 comparables right here gives us the final information at the top, the investment information here. Investment summary, then let's try looking at the photos first. Okay, we selected comps or property number 2 is one of the comparables. This is how it looks like from the outside. The inside of it. It's brown and white, I think the floor is made of laminated wood. Yeah, the bathroom. Okay then. Let's look at number 7. The bathroom. Tiles. This one also looks like laminated wood. Okay, kitchen. This is how it looks like from the outside. Definitely looks good, perfectly. 

    Let's look at the other 2. Number 12. This one from the outside of the kitchen. The bathroom, I think yeah, the bathroom. Still more white theme. White paint and I'm not sure if the floor is made up of wood or could be laminated one. Looks like on the outside with the car part. Unfortunately, not able to see the rest of the pictures here for some reason. 

    So what we are advising you to do is to still do your due diligence for you to come up with a more accurate repair or rehab budget. But overall this is the summary of our investment here. So the list price is $95,000 and the ARV is at $156,764. We arrived at 39.4% discount amounting to $61,764. So all in all this property has a good opportunity for rental and I think this one is good as well. This is also a good deal. So there you have it, till next time you have a good day. 

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