• Real Estate Deal of the Day May 12, 2019

    Real Estate Deal of the Day May 12, 2019

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

    MLS Deal Property

    2808 Cedar Park Blvd

    Richland Hills, Tx 76118

    List Price: $64,900
    Bed/Bath/Pool/Stories: 3/1.0/0/1

    MLS Deal Finder Estimated Value:                          $129,638
    MLS Deal Finder Estimated Discount:                      $64,737
    MLS Deal Finder Estimated Discount%:                   49.94%

    *Based on the following CMA Criteria: 

    ARV- Subdivision

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    Map View

    Photo View

    Real Estate Deal of the Day May 12, 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 is at 2808 Cedar Park Boulevard, Richland Hills 76118. So since the listing agent doesn't have photos for the subject property, the one I'm showing to you right now is the map. So for us to check, even the exterior of the house. So this is our subject property and this is its neighborhood.

    So yeah, let's check the details of the subject property. Well, its list price is 64,900 and worth about 129,637. So its list price per square foot is $58.89. And based on the comps in the area, it's estimated price per square foot is $117.64. Well, this one story property has 3 bedrooms, a bathroom, and one garage. And this was built in 1950 with 1002 square feet. So we have the listing agent's public remark here, you can bring your tools. So, this house really needs a renovation. So let's try to check the comps. So, the system has selected, automatically selected 4 comps. It's purely based on the price per square foot, the distance, the recency, as well as the subdivision. So the 4 comps selected are on the same subdivision. So the 4th one is comp number 7. So yeah, let's check the photos. This is our first comp. Well, we have stainless appliances there, ceramic tile, and the bedrooms. We have hardwood floors. And this is its backyard. Moving on to the 2nd comp. Alright. This is also renovated. And our 3rd comp. So, from these comps, it gives you an idea of what specific strategy you will be doing. So the comps that we've seen are already renovated and yeah, lastly the comp number 7. Appliances are there as well. Alright, so those sort of photos of our comps. And by the way, based on the sold comps, that the system selected, it gives us an ARV of 129,638 so, that gives us a discount of 49.94% that's a 64,737.

    And we're also getting good rental index 1.96 or a monthly lease of $1,274. You might want to check as well the active properties in the area. So, well based on the sold comps that we have, it will be good, this property will be a good one for buy and hold, as well as for a fix and flip.

    So that concludes the deal of the day video for today and happy deal finding everyone.

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