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List Price: $ 90,000
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This is Real Estate IQ’s Deal of the Day. And today we have found a fabulous deal for you, in the Houston market.
Thank you, Steve. Today's Houston Deal of the Day came to my inbox, as it was picked up by MLS Deal Finder. It's 14930 Sandy Creek drive in Houston, 77070. It was listed at 90,000 worth about 191, so that gives you 100,000 plus to do your repairs, your closing costs, holding costs and get your profit. The monthly lease is 1670, so there's potential for it to be a buy and hold as well. It was built in 1975, is 1869 square feet, 4-bedroom, 2-bath, one story with a pool. The agents' remarks say this home needs a total remodel. Pipes are leaking in several locations, need new piping for the whole home. Electric has fried the whole home due to a short. Home took in a little bit of water during the flood. Not much, only half of the carpet in the bedroom was wet so they have taken out all the carpet in the home. Pool is green- will need maintenance and we are unsure of the condition. Needs new floors patches and ceilings throughout the home. Possibly wiring, light fixtures, garage needs, the garage door needs to be replaced and left side of garage structure needs to be fixed as it is, it is damaged due to a truck backing into it. So this is going to be a full big rehab job. But if you're up to it, it could possibly bring you some good profit. Will come to look at the comps in a moment.
Active. There are 3 other properties actively listed on the market right now. One at 228, one at 205 and one at 219, on the same Heatherwood village subdivision. Here are the leased comps. So you can see 1650, 1595, 1750 and so on. And here are the pictures. There's the outside. And the only other picture is the, yes, definitely green pool in the back. So it looks like it's gonna need some landscaping as well. Let's check it out a little more closely. I'm gonna click here on property details and that took me here.
I also actually, we did the comp so that we're looking at everything in the last 180 days, within a quarter mile, within 10 years of the year built and 20% of the square footage. So based on these 4 comps, it's actually coming up to 196 so that's even a little bit better. But you can see this one sold for 189 number 2, the rest all sold for over 200 so we wanna check those out a little bit more closely on. These say they never flooded. No flood history. And this one doesn't say. So let's check it out on the map.
And there we are, just south of Louetta in Eldridge. Nothing looks like a, look, there's a little creek running through here that our property is on as well as these two comps. And comps 2 and 3 are not so that's going to affect the price a little bit as well. And then let's take out, check out the photos we already looked at our subject property. So let's check out the comps here. This one has a nice pool, looks like a Jacuzzi as well. Nicely landscaped, here's the inside. Like some custom cabinet, cabinetry there. Where's the kitchen? There it is. So it looks like granite. Nice. Electric Cooktop. I, this is the one that went a little bit lower. This was the one that was in the 180s sales price. So you can see looks like laminate, tile. Here's the kitchen. I just say it looks like granite but not quite as nice a rehab as the other one, you can tell that. This one also has a pool. And here's the kitchen, done in dark granite and tile. And the last one, done a little bit more modern there with those colors in that tile. I'd say now if you're going to bring top dollar, you're going to have to fix it up as nicely as 1, 3 and 4. And that should bring you over 200,000 the way it's looking. So make sure you always do your own due diligence and happy investing.
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