• Real Estate Deal of the Day – March 24, 2020

    Real Estate Deal of the Day March 24, 2020

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

    MLS Deal Property

    3819 Southern Field, San Antonio, TX 78222

    List Price: $175,000
    Bed/Bath/Pool/Stories: 4/3.0/0/2

    MLS Deal Finder Estimated Value:                            $222,053
    MLS Deal Finder Estimated Discount:                      $47,053
    MLS Deal Finder Estimated Discount%:                   21.19%

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    Real Estate Deal of the Day March 24, 2020

    [Video Transcription]

    This is Real Estate IQ’s Deal of the Day. And today we found a fantastic deal for you in the Austin and San Antonio market.

     

    Hello, everyone! Today is San Antonio Deal of the Day. Our subject property for today's at 3819 Southern Field, San Antonio, TX, 78222.

     

    Looking at the details of this property, it's currently listed at $175,000, worth about $222,054, and has a list price per square foot of $83.93. But based on the comps in the area, its estimated price per square foot is $106.50.

     

    This two-story property has four bedrooms, three bathrooms, and this was built in 2013 with 2085 square feet.

     

    We can also take a look at the map. The one with the yellow star, that is the subject property.

     

    So the system was able to find 19 sold comps and six rental comps in the area. So let's take a look at the sold comps. So out of 19, the system was able to find 3, which is based on the price per square foot, its distance, recency, and the subdivision. So all three comps are on the same subdivision, not that big a gap when it comes to the price per square foot, and has really good distance as well. All of the three properties  are sold within a month.

     

    So let's take a look at the photos of our subject property. It will give us an idea how much work needs to be done for a specific property or if it's already renovated. Now let's go to our photos for our sold comps. Here are the photos of the first comp selected; renovated already. Alright! Here are the photos of the second and third comps.

     

    Those are the photos of our sold comps selected. The system was also able to find 6 rental comps in the area and here are their photos: granite countertops and wooden cabinets. Kinda has the same features with the sold comps selected.

     

    So with the comps that were selected, we are getting an estimated price or after repair value of $222,054. From our list price of $175,000, we are getting an IQ discount of $47,053, that's a 21.19% discount. From the rental comps, we're also getting a 0.93 rental index or an estimated monthly lease of $1,620.

     

    So with the comps that were selected, we could say that this property could be good for buy and hold strategy. You might also be interested in doing some remodeling for it to be sold in no time. Once again, with the rental index that we have in here, this property could be good for buy and hold strategy.

     

    Alright! So that ends the Deal of the Day video for today and happy Deal Finding, everyone!

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