• Real Estate Deal of the Day June 08, 2019

    Real Estate Deal of the Day June 08, 2019

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

    MLS Deal Property

    801 Redbud Street, Crowley, Tx 76036

    List Price: $129,900
    Bed/Bath/Pool/Stories: 4/2.0/0/1

    MLS Deal Finder Estimated Value:                          $209,084
    MLS Deal Finder Estimated Discount:                      $79,183
    MLS Deal Finder Estimated Discount%:                   37.87%

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    Real Estate Deal of the Day June 08, 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 801 Redbud Street, Crowley Texas 76036. Looking at the details of this property, it's originally listed at $139,900 but now its current list price is $129,900. So this property is worth about 209,083 and with the list price per square foot of $66.80 based on the old comps in the area. Its estimated price per square foot is $107.55.

    So this property has 4 bedrooms, 2 bathrooms with a fireplace and this was built in 1976 with square feet of 1944. So since the listing agent doesn't have photos for the subject property, we can go to the map, for us to check even the exterior of the property. So let's see, we can zoom in. And we can grab this little yellow guy on the street. Alright so here it is. So let's see. The one with the yellow star, this is our subject property. And its neighborhood. Alright. 01:39

    So basically, the system will automatically select sold comps, 3 to 4 sold comps in the area. And we are in the ARV- Subdivision. So we are getting a good price per square foot with the 3 selected comps, within a quarter mile and really good recency. So all the comps, all the selected comps are on our, on the same subdivision. So let's take a look at the photos. Since we don't have photos for the subject property, let's try to check the photos of the comps.

    All right, it's already renovated. Getting hardwood floor. That's for our first comp. Moving on to our second comp. That looks nice. Already renovated. With stainless steel appliance as well as granite countertops. This is a good comp. And moving on to our last comp. Alright, so these photos are very helpful to give you an idea what are the things you might be doing. You might be interested in remodeling the house so that it will be sold in no time.

    So based on the selected comps, we're getting an ARV of 209,084. A pretty decent discount of 37.87% or an IQ discount of $79,183. So based on the sold comps we checked, I would, you might be interested in remodeling the house and subtract the rehab budget from here. It will give you an idea of how much profit you might gain if you will be pursuing the property. So we're also getting a good rental index 1.25 or a monthly lease of $1,629. So this property is good for flipping as well as for a buy and hold. And this ends the deal of the day for today and happy deal finding.

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