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Hey this is Steve Liang and Sidney Sum here with Real Estate IQ and today we found a real estate deal of the day here in the Dallas, Fort Worth area and we want to share it with you. Check it out.
Everybody, welcome to the Real Estate IQ Deal of the Day. And today we present to you a very good deal in Tarrant County, in the city of Fort Worth. And here's our address 4841 Sandage Avenue. This was just listed on the 5th and we see a big opportunity here. It's asking for 66,000 and after we refine the comps, the estimated price is 139,000 so we're looking at a really big percentage of discount where we're buying this House for less than 48 cents to $1, over 52% of discount, a lot of opportunities here. Upon looking at the information, a little further, so here we're looking at the data view of the comps. We have the subject property that is an REO, which means it's a real estate owned or foreclosure property. And based on the asking price of $66,000 we're looking at $56 and 60 cents per square footage and that's much lower than all the other comps which are hovering around $120 per square foot. Pretty much on average and all of these comps on the same subdivision in various distance away. Cool. Very, very interesting results here in terms of the comps we see. Let's look at the map and the photos and review the comps, a little more in different angles. So the map view here is showing us where all the comps are in relation to the subject property and all of these are in a very similar area. We can check it out using by using the Street View. Check out the neighborhood, and making sure that the neighborhood is pretty much the same, right. It looks like the neighborhood, and the houses, the cars parked in the area they all pretty much in a very similar location. So I think we're good here.
Finally, let's check the photos. It's going to tell us what the, what the interior looks like for these properties. So here we have this subject property. And this is what the interior and exterior look like, very dated. Obviously a lot of work that needs to be done, but what, what does it need to look like. So let's check out the comps here. So this comp is updated with hardwood floor is what it looks like, updated kitchen so everything is pretty much redone on this property. And for this one too. This one as well. Cool. So this is a big opportunity for somebody that wants to come in and completely remodel this house to look like these comps and we have a margin of over $73,000.
So let us know what you think if you have visited the property and done a rehab budget. Let us know what the budget is and if you win this deal, please let us know as well. We were looking for testimonials all the time and we will love to capture your testimonial. All right. Great. Thank you. And happy deal finding.
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