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List Price: $285,000
This foreclosure property in Spicewood, TX has recently dropped in price. The current list price is $285,000, which represents a 23% reduction from the original list price.
MLS Deal Finder found 3 Sold comps for this property. These Sold comps are all within 0.5 mile from the subject property. Based on these 3 Sold comps, which have an average $/sqft of $158.69, this property is priced significantly lower than its market value, which is estimated to be $529,376. It is important to note that the $/sqft of the 3 comps range from $121.58 to $190.33. If you can rehab the project to a similar condition as comps #2, which has the highest $/sqft of $190.33, the ARV can be potentially much higher.
Based on the available photos, only minor rehab and updating is needed. The estimated profit of a whopping $244,376 represents a potential 46% discount, and it is a fantastic investment property for any investor looking for a big margin.
The average DOM (Days On Market) of the Sold Comps is 118 days.
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