• Real Estate Deal of the Day January 14, 2019

    Real Estate Deal of the Day January 14, 2019

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    MLS Deal Property

    2374 Bastrop Street, Houston, Tx 77004

    List Price: $ 309,000
    Bed/Bath/Pool/Stories: 2/2.1/N/3

    MLS Deal Finder Estimated Value:                             $ 409,971                                                                                                                LS Deal Finder Estimated Discount:                           $ 100,971
    MLS Deal Finder Estimated Discount%:                   24.63

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    Real Estate Deal of the Day January 14, 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 and welcome to the Houston deal of the day. For today, I chose a property that is close to downtown, actually just south of downtown Houston in an area called Midtown. And this one is 2374 Bastrop Street in Houston 77004. It's listed at 309. The first automated CMA came up at 430,265. So that tells you, you've got a 121,000 to work with for all your costs and to get your profit. So let's check it out a little closer. So If I click here on the address takes me to this page with the comps. And so I was looking through them and I, this one is built in 2008. So I did take out one that was built in 2014. As that's not a very good comp. So this is a 3 story townhome. So it's definitely for somebody who wants to get their exercise. It's got a rooftop deck, new carpet, freshly painted walls, and gorgeous hardwood floors. There's a library study or weight room just off the master suite on the third floor, which could also be used as a starter nursery. The second floor has open concept, with kitchen dining and living that shows off the beautiful custom, I think it's supposed to be custom blinds, letting in tons of natural light. Rooftop deck, so you can enjoy the Houston skyline or have that perfect dinner party. It's on a corner lot, and it says what makes this possibly a better deal is a fact that says the seller is considering all offers at this time, so stop by and check out your new home. It had no damage from Harvey. So this one has been on the market for 225 days as of December 23rd. So it has been on the market a long time. So you'd definitely want to try to figure out why it hasn't been selling. And I would, you'd also definitely want to consider the days on market for the other homes.

    But if we look at these, this one sold 51 days ago. I mean it was on the market for 15 days. This one's 79 days this one's 68. It's only 12 days and that sold 16 days ago so that's kind of encouraging. This one 31 days on the market and it sold 192 days ago. So definitely wanna to keep those things under consideration the HOA dues are $1400 so you also need to factor that into your costs. So let's check out the map. That is not the map. That's the map. There we go. So you can see it's right by the 69 freeway, and the 45, south of downtown. So here's some of Midtown and you have to be careful where these comps are. Although I'm not sure when you're talking about these townhomes that close to downtown if the subdivision is going to matter all that much. You can see there's quite a few of those 3-story townhomes in that area. So if we look at the pictures, here's our subject property. Lovely furniture stand. This looks like carpet on the stairs. There's the hardwood floors, so there's no repairs that are obvious from either the remarks or the comments. So you definitely want to do your due diligence there. That looks like the view from the rooftop. I can see all those other 3-story townhomes with downtown in the background. So looking at the comps. Closet, lots of clothes. Interesting sink. There's a nice little patio, deck. A lot of these tend to be very modern, in their style.

    So as I said you definitely want to investigate why it has been on the market so long without selling. But as the seller might be very motivated, you might be able to get a good deal on it. So remember always do your own due diligence but thank you for listening and happy investing!

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