• Real Estate Deal of the Day October 30, 2019

    Real Estate Deal of the Day October 30, 2019

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

    MLS Deal Property

    2706 Cherokee Trail, Corinth, Texas 76210

    List Price: $199,000
    Bed/Bath/Pool/Stories: 4/2.1/0/2

    MLS Deal Finder Estimated Value:                          $257,008
    MLS Deal Finder Estimated Discount:                      $58,007
    MLS Deal Finder Estimated Discount%:                   22.57%

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    Real Estate Deal of the Day October 30, 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.

    Good morning, everyone. Welcome to Real Estate IQ Deal of the Day. So our deal today for Dallas, Fort Worth Metro is at 2706 Cherokee trail Corinth Texas with a zip code of 76210 and using our software here. 

    Let's look at the detail of the property. So its current listing price in the market right now is $199,000 it's worth about 290,187. Its list price per square foot is $90.50. It's estimated price per square foot is 131 point 96. So this was listed on October 21, it was more than a week ago. We're looking at a four-bedroom, two and a half bath, two-garage, one fireplace, two stories residential property built in the year 2000 with a square feet of 2199. The MLS number for our deal today is 14212 772 and the agent’s name George Milos and his phone number and it's looking to the remarks of the listing agent. 

    Says here excellent investment property with a tenant with immediate cash flow and equity for the savvy investor. The current tenant wants to sign a new minimum of two years lease with the new owner. That's good. And property can be viewed during the open house that is scheduled for the third of November, so it's going to be next week from creep. From 12 to 3 pm and this property sold AS IS. Sellers investor never lived in the property and property has been placing upcoming online events all bits would be submitted by XOME portal. There'll be no private showings only an open house Sunday on November third. So please take note after remarks of listing agents and you might want to take no we didn't name and a phone number to strike a deal. 

    If you'd like to pursue this now we're looking at a very big gross discount here. We have a gross discount percentage of 22.57% or an amount of $58,000 just the estimate month lease. And if we check on comps here under active properties here. For number four and three, two and one is the closest and let's take a look with our subject compared to one with a star right now. 

    So this is our subject comp. Pretty decent place. Also good neighborhood. Okay, now let's look into our software here and review the comps’ figures. So we have four best comps, and for looking to the pricing per square foot or subject comp or deal today is at $90 and 50 cents. But if you look into the other active comps in the market, you'd see that there's a big increase of around 121. 46 out of $110 and 85 cents. We're looking at this one for 126 $108 and 37 cents. So, these are the prices. Higher than its current offer price in the market. And for looking to the days in the market here so it's the second day, and this act of purpose here is still active. And if you look into the pricing and the potential of the active properties under neighborhood, we're looking at 279,000, 284 000 to 254,900 to 249,900. And our current list of prices just $199,000 so we data if you get it to a difference. This will be the average amount of potential that we can extract from it. 

    So this software. This will give you some figures on the square feet, what it costs a week and do a temporary some reset beside comparison. And let's look into this one here. Let's look at the photos. I don't think you'd be concerned about having any updates inside since there's still a tenant living in a property. So what you can profit from this is that you can sign a new contract with a tenant and have them continue to pay for the next two years. And profit from having is appreciated in the long term. And let's look into the other properties here. Pretty decent. Is the one was priced for around $250,000. Right. And let's look at two, three and four. These ones are bit stretched or farther from subject comp. Pretty decent as well. Alright, so this is our deal today with 2706 Cherokee trail Corinth Texas and 76210 with this big potential and always remember when you're looking for the best deals. 

    Always remember real estate IQ and then always do your due diligence and finding deals you. Take care everyone and have a great day. Take care.

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