• Real Estate Deal of the Day October 11, 2018

    Real Estate Deal of the Day October 11, 2018

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    MLS Deal Property

    12318 Dual Circle Ct, Cypress, TX 77429

    List Price: $100,000
    Bed/Bath/Pool/Stories: 3/3.0/0/1

     

    MLS Deal Finder Estimated Value:                              $199,384
    MLS Deal Finder Estimated Discount:                        $99,384
    MLS Deal Finder Estimated Discount%:                     49.85

     

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    Real Estate Deal of the Day October 11, 2018

    [Video Transcription]

    Hey this is Steve Liang from Real Estate IQ. I'm with Becky Kromminga here in Houston and today we have found a really good deal in Houston. We want to share with you. Take a look.

    Thank you, Steve. Today's Houston Deal of the Day came from my inbox from MLS Deal Finder and the address is 12318 Dual Circle Court in Cypress, Texas. And it was listed at 100,000, estimated price 199,384 so that's a 50% discount. So that's definitely something I want to look into further. The lease is 1,924, so that's a rental index 1.92 if you only pay a 100,000 for it. So, so far looks promising. Look here, it's been on the market for 376 days. It was originally listed at 149,900 so it just had a price change and that's why it came to my inbox today. Looking a little further built in 1980, 1,539 square feet, 3 bedroom, 3 bath. The listing agent did not leave any remarks, so that's not gonna give us any clues as to the properties, but the sold comps are these three right here. This is our subject property this one at the top, and we can see that if you look at the price per square foot, ours is listed at 64.9. These 132, 117, 139, they are in a different subdivision, which is not what we prefer, but if there have not been any sold properties then, there have not been any other sold properties in that subdivision so you have to go with what you got. There’s no other active listings within a half a mile, and there is one other leased property and that one looks like it's going for 1,800 and it's just a hair bigger than ours. So that's where they got that from. So let's look at the pictures. Looks like perhaps there's two houses on the lot. It's hard to tell for sure, but that's kind of what it looks like to me. Definitely would need to call and figure that out. So let's go to Real Estate IQ, so I'm gonna click on property details and that's gonna take me to the comps page. So I can see a little bit more information about the comps. We already check those out, we already know about the subdivision. This one was kind of a long time ago, but that's the lowest of the prices. So if we take that one out, it would actually raise the estimated value of our house. So let's go to map and see where they are. So we can see they are all fairly close, even though they're not in the same subdivision, they're not across any major roads or there's no, nothing else here that would make it seem like we don't wanna use any of those properties. So let's go here to photos and check out the pictures. We already saw those pictures, so we wanna look at the pictures of the comps, so here's No. 1 looks like decent shape and not completely updated with all that paneling. I see some bare studs on the right telling me that perhaps this house flooded. Kitchen looks nice. I'm gonna scroll over and keep going and there's definitely some missing sheetrock. So this house was flooded at least part of the house looks like not the whole thing, and so that means that's even gonna be worth even more so that pushes our value a little higher. This is the one that's sold almost a year ago, so I'm not seeing anything there, and also not updated. So let’s check out our last one. It’s nice in the front, nice porch, big garage, building with it. And there's the inside. So there's a lot of question marks on this property as far as the comps aren't very strong, they're not in the same neighborhood. This one hasn't been fixed up, that one sold a long time ago, and this one looks like it has a lot of new work done on it. So there's a lot of things you need to do, to do your own due diligence to check this out, but it might be worth a look. Thanks for listening and happy investing.   

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