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Update: This property just sold since the recording was made.
List Price: $350,000
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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. Today's Houston deal of the day is 710 Cordell Street in Houston 77009. Now this is a valuable property because of the location. It is inside the loop. And inside highway 45 so that makes it really close to downtown. So you can see on the map you zoom out a little bit, here's downtown Houston. So this is the loop. So it's inside the loop. And this is actually in an area called the heights. Which is also a pretty desirable area. So, this House is 1889 square feet. It was built in 1920 so it's an old one: a three-bedroom, two-bath, one car garage. MLS NUMBER 11286933. And there are no remarks, so we don't really know a lot about this house. So whether it's a deal or not it's going to depend on a lot of unknown factors, but it could be interesting to check out. So if we look at the photos here, they only left photos of the outside from a drive-by so it kind of looks a little bit rundown for 1920 another option in that area is to tear it down and build, possibly even to townhomes that's something that is done a lot in that area. So, but the comps here that we're looking at are all similar age. None of them are two stories like this one on there just weren't any like that that were sold. But you can see that it's fixed up pretty nice here. Little extra fancy with that freestanding guessing clubfoot tub in that shower fancy light fixtures and you would want to do that in this part of town, you would want to make it low higher and rehab and in many other areas. Let's check out this one. So you can see here, again, it's an older house, but they are one stories. But you got to use what you can use. Similar finishes inside with granite the fancy your light fixtures. Lot of pull outdoors and that pantry. That's a nice feature. Wood. Accents. And again, fancy sinks. And the three standing fancy tab as well. The shower too. See, you definitely want to do a super nice rehab to this one. So you would want to evaluate the rehab costs to make it nice versus what you could get if you just tore it down and built new. Let's see what the, how big the lot size is. Only one acre. Or look on it down below. Now go here to list so we can check it out with the other comps. Lots size is 5000 square feet so that. May not be enough to put two on there but it depends on what you're building may be a duplex actually. Work and so to check that out. I would probably go back to the cops and run CMA with a new year build and probably a little bit larger square footage and see what came up. But looking at these comps. This one sold for $336 and 71 cents a square foot 111 days ago after only four days on the market isn't sold nine days ago after only 16 days on the market. I rolled this one out because it hadn't been accepted yet. Go back this way. This one sold 97 days ago after 89 days on the market. So that's a little bit longer. So you might want to examine why that one took so much longer to sell. This one was on the market for one day. Look at that. Five days, six days 15 days that was seven days ago after only 15 days on the market. So again, it's that location close to downtown that makes this such a hot property at 350,000, which is what they're asking. That gives you about 205,000 to do we have your closing costs holding costs and get your profit where it's a 36.96% discount. So as always, make sure you do your own due diligence. But thanks for listening and happy investing.
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