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Update: This property just sold since the recording was made.
List Price: $80,000
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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.
Hello everyone! Welcome again to another Houston Metro’s Deal of the Day! Today, we are looking at this property at 12409 Palmway Street, Houston, TX, 77304.
Looking at the details of our property, it’s currently listed at $80,000, with an estimated price of $131,050, list price per square foot of $563.49, and estimated price per square foot of $104.01. It was listed just this month.
We’re looking at a one-story property with 3 beds, 1 bathroom, 1 car garage, and was built 1958 with a total square feet of 1260.
Looking at the neighborhood, subdivision, and schools at Genoa Elementary School, Bondy Intermediate School, and Memorial High School (Pasadenia).
You have here the MLS Data: MLS number, listing agent’s name, phone number, and public remarks personally noted by the listing agent, Philip himself.
Now, let’s take a look at our subject property. There is your one car garage, it was flooded before so it needs some renovation, and your toilet.
Let’s take a look at the photos of our sold comps for our property. Here’s your first comp: tiled flooring, white kitchen cabinets, granite countertop, bedroom, laminated hardwood flooring. The other comp has: wooden kitchen cabinets, tiled flooring, bedroom, another laminated hardwood flooring.
So let’s now take a look at the details of our best sold comps. The first one is at 12017 Dumas Street with $98.50 price per square foot, 0.39 distance, and 160 recency days. The other comp is at 12202 Palmdate Street, $109.51 price per square foot, distance of 0.31, and 98 recency days. Both are 20 days in the market. You also have here your MLS information of your 2 best sold comps; the ones highlighted in blue.
Alright! Let’s go now to our map view. The blue circles are your best selected sold comps, the gray ones are your other comps, and the yellow star is where your subject property is currently situated. You can just zoom it in and drag and drop your google man for you to have a closer look.
Looking at the investment summary, asking or offer price of $80,000, with an estimated price of $131,051 gets you an IQ discount percentage of 38.95% and 1.6 rental index score. We can say that our property is good for flipping or wholesaling, as well as, buy and hold gives you a suggested monthly lease of $1,276, from the IQ discount percentage also gives you a gross discount of $51,050 for renovation and some minor touches.
So that’s it for our Deal of the Day. And as always, thank you for tuning in! Stay safe and happy Deal Finding!
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