• Real Estate Deal of the Day February 04, 2019

    Real Estate Deal of the Day February 04, 2019

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    MLS Deal Property

    222 Sutton Square, E Stafford, Tx 77477

    List Price: $ 179,900
    Bed/Bath/Pool/Stories: 4/3.1/N/2

    MLS Deal Finder Estimated Value:                             $332,024
    MLS Deal Finder Estimated Discount:                        $152,124
    MLS Deal Finder Estimated Discount%:                    45.82

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    Real Estate Deal of the Day February 04, 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!

    Hello everyone, today's Houston deal of the day is in a place called Stafford, Texas, which is on the southwest corner of the Houston area. If you are an investor in the Houston area, you've probably been to the Redneck Country Club, it's not too far from there. So we have, this one is listed at 179,900. Our Algorithm is saying it's probably worth closer to 332, so that's a 152,000 to do your repairs, pay your costs and get your profit. So it's a 40 over 45% discount percentage. So it's looking pretty good. It's been on the days, it's been on the market 9 days as of February 1st. And so there's a picture of the front of it, like a big, a 2 story, 4-bedroom, three and a half bath, 2 car garage, 8,000 square foot lot. So that's a good size lot for sure.

    So the comps right here, this one says immaculate, immaculately maintained patio home on the golf course. So you do have to be careful about homes on the golf course. They're going to go for a little more than one that is not. This, our subject property says amazing investment opportunity. Homes in this neighborhood are selling for $100+ per square foot. Once renovated, it could command over 300,000 great bones and very desirable floor plan. Each bedroom has its own vanity area or bathroom with master bedroom downstairs. So, and you can see it's list price is about $62 per square foot compared to all of these which are 100 or above. So let's go ahead and take a look at the map. Here we go. Sugar Creek, I'm not sure, maybe this is kind of golf course area. It's kind of hard to tell. So I think we want to take our little guy here, check the address 222 Sutton. Let's take the little guy here and drag on. And check out the neighborhood a little bit. On the right street, here Sutton square off a little bit. There's one of the comps. That's what this little red bubble means. We can see, oh, there's another one of the comps that we're not using because it's so long ago. No. 4 right there.

    And so it looks like a pretty nice area. We can also go to the satellite view here and check out where that golf course actually is. Let's go to satellite and you can see these are the ones that are on the golf course versus our, our subject property right here, the little black house, and comp no. 5 here, which are not. But this one is and you can see that's where it is. It's always a good thing to check out that neighborhood. Let's go to the photos and you can see here's our property right here. Looks a little dated with the wallpaper and a kitchen there, but, but not bad. So I think that a little updating is probably what you would need to do. So this could be a potential flip or the rental index is 1.3. So you can rent it out for about 2300. So it could be a good buy and hold. Also, if you're looking for a higher level one, this one sold with all the wallpapers well, and that was well over $100 a square foot, so that looks updated. The kitchen area did not. Here's the next comp right here.

    There's the kitchen, nice hood, cabinets, and then here's the other one that we're using as comps. So you need to make sure that if you are going to fix it up, you're going to do it at least as nice as these to get maximum value of it. As always, make sure you do your own due diligence. Thanks for tuning in and happy investing.

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