• Real Estate Deal of the Day September 02, 2019

    Real Estate Deal of the Day September 02, 2019

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

    MLS Deal Property

    553 Cane River Lane, Conroe, Texas 77302

    List Price: $197,400
    Bed/Bath/Pool/Stories: 5/3.1/0/2

    MLS Deal Finder Estimated Value:                          $310,619
    MLS Deal Finder Estimated Discount:                      $113,219
    MLS Deal Finder Estimated Discount%:                   36.45%

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    Real Estate Deal of the Day September 2, 2019

    [Video Transcription]

    Good morning! This is Steve Liang with Real Estate IQ. I'm with Becky Kromminga here, and today we have found a really good deal in Houston we want to share with you. Check it out!

    Happy Labor day everyone. Today's Houston deal of the day is 553 Cane River Lane in Conroe, which is north of Houston. And it is listed at 197 capping in about 294,five bedroom, three and a half bath no garage. I think it was changed into bonus room. I read fireplace two story build in 1976, 3200 square feet. MLS NUMBER 82994453 and Ryan Kutter is the one to see if you want to check it out. His remarks. A looking for a great home and a golf community is handyman special is a great place to come home to. Surrounded by mature trees. This as his home offers a spacious floor plan. The kitchen boasts granite countertops double ovens tile backsplashes and a deep double sink. Bedrooms are bright and comfortable large downstairs room can be used as a mother-in-law /rec room or workshop with closet and you to Bath high and dry with a brand-new roof as of January 2019 neighborhood has low taxes HOA and ease of commute. Let's check it out. Here's the map. Um, first thing I want to check is I noticed there's this kind of big area here with no houses and but I see that none of the comps. When I zoomed in. Actually back up to that. So that might change the value number eight does, but it's not. When the computer chose anyway. So let's take a little Google guy and check out the neighborhood, a little bit from here I'm kind of what you expect in Conroe are these really tall trees very for still life, there's our subject property. And there's the cul de sac. It's on. So looks like pretty big lots. So look at the photos of it. Here's the front which looks like it's been painted probably when they did the roof and painted since the Google Maps has been on that street. Look at the inside, it is nice and open. There's some new flooring in that room for sure, but look at that light fixture. That's kind of cool and modern carpet going up the steps. There's the fireplace that room looks pretty nice. It's the nitty gritty. There's the kitchen doesn't look like you really have to do anything with the kitchen and the most those appliances are kind of old. It doesn't look like it. Has a granite back in the kitchen. Laundry room as a vinyl. I probably need to replace that carpet. And this is a room air conditioner. So it could be because this was that add on room, which I think used to be the garage. But you want to check that out if it's got centrally see it looks like there was some issue up here in the ceiling, maybe some issue with the roof definitely needs fixing up in that bathroom. That's interesting. Granted on that one. Definitely need some work looks like some tile work maybe replace that whole bathtub unit. Noticing anything there, new mirror. Yeah, maybe replace those fixtures, get some more updated ones. But it looks like overall a fairly light we have unless there's any major issues that we don't know about. Let's take a look at the comps. Our property is going for 61.69 a square foot. This one's 72. This one's 86, 96. As the ones that shows and they're all in this river plantation subdivision some more in different sections. These ones are not, I probably add this one in because it was 160 days ago and it is the same subdivision. And it's like a higher price and probably fixed up pretty nicely. If this one out, since it says 304 days ago. And this one's pretty low. So I'm guessing it really hasn't been fixed up just doing that is already put it over 300.  See the remarks hearsay. Golf Course easy access floor plan wood floors, glass front cabinets prep sink double ovens. Large master suites. Hardie plank, nothing in those comments make me think that this is not a good price for it. Let's look at the photos for number one. Interesting kind of barn style great outdoor living spaces. Hot tub. Look inside. So it looks pretty decent looks like hard wood countertops. Have kind of a farmhouse look to it which matches the outside. An interesting paint on the cabinets looks like these are laminates and this isn't completely remodeled, but it has had some nice touches, so that one's a little bit lower, which is pulling our value down a little bit, but looks reasonable. Overall, let's just take a look at one more comment here. And see what this one's like. Here's the kitchen granite modern light style. Bathrooms been redone with granite sink not showing the shower and this one, definitely nice remodeling. Might want to take the painters tape off, just a suggestion. There's the kitchen on that one. So you probably. Looks like a fairly light rehab and at a discount of 113,000 that gives you plenty of room to do the repairs and your costs and get your profit. So as always, make sure you do your own due diligence and thanks for listening and happy investing.

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