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List Price: $ 200,000
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Hey this is Steve Liang and Sidney Sum here with Real Estate IQ and today we found a real estate deal of the day here in the Dallas, Fort Worth area and we want to share it with you. Check it out.
Everybody, today we found a deal in Tarrant County, it's in the city of Arlington. Let's look at some of the numbers. The asking price is $200,000 and this is a house that just hit the market today. We have an estimated price of $280,000. So just looking at these numbers, we have a potential of a little bit over $80,000 of potential margin for you to make, right! So this looks like a really good deal. Now let's look at it a little more. So the 3 comps we chose are all in the same subdivision as the subject property here. If you kind of take a look at the, at this house, you can see maybe there are some improvement opportunities comparing to these other, houses. From a price per square footage standpoint, we're seeing a big discrepancy, you know, $74 per square feet and everything else is above 100 bucks per square feet. These are a little bit smaller in size in terms of square footage. So make sure you keep that in mind. Let's take a look at the map. Given these houses are in the same subdivision, they should all be in a pretty, about the same place. The subject property is right here and the comps, we chose are here. So let's check out the neighborhood a little bit.
Let's pay attention to the style of homes they use here. And let's compare it to this property over here. Again, we're just touring, virtually touring the neighborhood, making sure the neighborhood is pretty homogenous. You know, they all look about the same. It does seem like it is, very nice. Let's take a look at these houses over here, these comps. Yup. Very similar style. So these are good comps. Let's take a look at the photos, take a look at the picture and let's take a look at the, the big interior. So this is the interior of the house, that's the subject property, it looks like it's very well, very spacious, nice photos, could use some updating. Let's see the other comps. Here are the comps. This house looks about the same style. It's not, doesn't look very updated to me. About this one, also not much updates. And then this one, maybe they updated kitchen here, bathroom. There's a little bit of update in the bathroom it looks like, but, doesn't seem like there's a lot of work that got put into these comps and they're selling for a lot more expensive than the subject property. So this certainly looks like a very intriguing deal for us. The price per square footage is much, much, much lower than the comps, you know, makes you wonder what's wrong with the house. But it, it does look like, you know, it doesn't, it's not gonna require a lot of a update on the property to bring it, to bring it up and make it look like the other comps. So this is a very good opportunity for, for someone who's just started. Alright. I hope you guys enjoyed this deal. Make sure you follow our deal of the day. Our daily deal of the day. We find a deal all over Texas everyday from Monday to Saturday. Thank you.
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