• Real Estate Deal of the Day July 17, 2019

    Real Estate Deal of the Day July 17, 2019

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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: 2/1.0/0/1

    MLS Deal Finder Estimated Value:                          $152,065
    MLS Deal Finder Estimated Discount:                      $57,064
    MLS Deal Finder Estimated Discount%:                   37.53%

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    Real Estate Deal of the Day July 17, 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.

    Hello everyone. Today is DFW deal of the day and our subject property for today is at 1711 Wynn Terrace Arlington 76010. Since we don't have the photos of the subject property, we can take a look at the exterior of the property by going to the map. So let's see, we can grab this little yellow guy on the map. So the one with the yellow star, this is our subject property and its neighborhood. 

    Looking at the details of this property, it's listed at 95,000. And it's worth about 152,064 and it has the list price per square foot of $76.12. So based on the sold comps in the area, its estimated price per square foot is $121.85. So this one story house has 3 bedrooms, a bathroom, and was built in 1955 with 1248 square feet. So we can take a look at the comps. So we have 3 sold comps within a quarter mile, which were sold within 180 days. 

    So, first comp has this price per square foot, $124.55. Pretty good distance. So let's take a look at the photos of these comps. Here are the photos of our first comp. Well, we have stained concrete flooring, built-in cabinets. And here are the photos of our second comp. It's already renovated. And the photos of our last comp. Well this one is on the same subdivision. Alright, well, this is a pretty large backyard, which will be good for entertainment as well. Covered patio. 

    Alright so,as per the listing agent's remark, so it has been already remodeled with updated countertops. So those are the photos of the comp and based on the sold comps selected by the system we're getting an ARV of 152,065 so that gives us a discount of 37.53% or that's $57,064. So we're also getting a good rental index, 1.34. It give us an estimated monthly lease of 1276. So based on the photos of the sold comps selected, so it will give you an idea what are the things that you might need to do so that your property will be sold in no time. So this property is good for flipping since we're getting a pretty good discount as well as for buy and hold. So that ends the deal of the day video for today and happy deal finding everyone.

    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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