Fixer upper houses can yield a big profit for an investor looking to flip houses. Depending on the home prices in the local retail market, and the conditions of the upgrade required (rent ready vs. mid grade vs. high end), a house flipper can estimate the amount of profit he/she can make.
With MLS Deal Finder, as soon as a fixer upper house is identified, a CMA analysis report is automatically done on the property, with details of all the recent transactions in the neighborhood. By quickly looking at photos and analyzing the conditions of these transactions, you can make a decision on what kind of upgrade can yield the highest profit.
Location: Euless, TX
List Price: $49,000
MLS Deal Finder Estimated Market Value: $101K
MLS Deal Finder Estimated Profit: $52K
MLS Deal Finder Estimated Rent: $1,147
Priced at $51/SQFT, this house is listed at LESS THAN HALF the value as the comparables in the same subdivision, which average at $107/SQFT. Based on the property conditions shown in the pictures, this is a fixer upper, and we anticipate quite a bit of work will be needed to extract the potential $52,000 in profit.
By the way, this is a very hot area, where inventory moves extremely fast – the comps were all sold within 2 weeks. Therefore, it is safe to expect this property will turn over in a short amount of time.
Fixer Upper Houses - Found
Location: Mesquite, TX
List Price: $41K
MLS Deal Finder Estimated Market Value: $118K
MLS Deal Finder Estimated Profit: $77K
MLS Deal Finder Estimated Rent: $995
This amazing opportunity was just listed on the market. All 4 comps we found for this fixer upper are in the same subdivision, so there is a high fidelity in the estimated market value. We notice that there are two groups of sold comps in this neighborhood, and depending on how much upgrades is put in the property, this opportunity can be valued at two different price points. If a moderately upgraded property, the price/sqft is in the $75 range, much higher than the listed price/sqft of $30; if you rehab the entire property, similar comps go as high as $99/sqft.
Fixer Upper Houses - Found
Ready to start hunting for Fixer Upper Houses? With MLS Deal Finder, you get so much more. On any given day MLS Deal Finder finds investment properties as soon as they hit the market: Buy and Hold properties, Foreclosures listings, Short Sales, Fixer Upper Houses, Sold As Is, REO, Bank Owned Homes, and HUD homes.
In addition to houses sold by motivated sellers, we also find deals in estate sales, transitional neighborhoods, or simply houses that needs cosmetic upgrades. As long as the house is under market value, our proprietary technology will find it within seconds, and you will receive a real-time, detailed analytics report on each deal.
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