Description


3/1 IN FARMERS BRANCH, FIX AND SELL FOR ESTIMATED PROFIT $22K - 15.13% ROI OR KEEP IT AS A RENTAL 9.9% CASH ON CASH
2/9/2017 0 Comments

Available 

ARV $182,000+
Asking Price $122,460

Estimated Repairs for Flip $20,000
Estimated Repairs for Rental $10,000
Market Rent $1,495

Farmers Branch TX 75234

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FLIP (Fix and Sell) Scenario Analysis
Total CASH Required $147,021
Total holding and closing costs $4,561
Estimated cost of sale $12,740

Estimated Profit $22,238.50
ROI (return on CASH invested) 15.13%
ROI (annualized) 90.76%

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Hold and Rent Scenario Analyisis
Total CASH Required $137,021 (plus closing costs)
Cashflow Monthly $1,130
Equity $44,978
Annual Cash on Cash 9.9%

CAD value $107,960
Tax 2016 $2,860

3 beds 1 bath
living 1,301 sqft
7,501 sqft lot
Single Family
Built in 1955
Frame House
Pier & beam foundation

Average days on market to lease 10
Average days on market to sell 67

avg ARV $175,049 ($134.55 sq ft)
high ARV $208,966 ($160.62 sq ft)

This is a Single-Family Home located at Valwood Park 02 Subdivision in Farmers Branch - Dallas County. Property is currently occupied by tenant paying $1,400. Tenant is on a month to month lease and tenant will be moving out at end of February prior to closing.

House needs , a few drywall patches, tape-bed-texture through out, paint and flooring. If your looking to re-sell for top dollar we estimated a conservative budget of $20,000. See our repair estimate sheet report. To keep it as a rental a $10,000 budget should be plenty. Interior needs basic cosmetic, flooring, texture on the walls and touch up. Kitchen needs updating and appliances. The exterior needs paint and some small repairs in some parts. House could use landscape for curb appeal. The roof is almost new replaced 2 years ago and the HVAC unit works fine however the heating component needs to be repaired. HVAC Cooling works fine. Foundation and electrical all look good, Some small cracks on wall from slight soil movement but no slope or problems on foundation. Plenty in the budget to cover everything needed either way.

Most of the houses in this neighborhood sell very fast, very nice location. Average size house in the neighborhood are 1,017 sq ft, houses smaller than this one sold for $160.62 per sq ft ( 965 sq ft for $150,000 sold in 2 days - sold on 01/2017) Subject property shouldn't have any problem appraising for $180s.

Closing is set for March 3rd and this will be an assignment. Cash or hard money only. We will host a group showing most likely the middle of February. So please contact us asap if you would like to view the inside of the property. Contact Felipe felipe@casadeals.com or Alfred alfred@casadeals.com for more info or questions! 972.265.9260

Check property on ZILLOW
Zestimate $146,384
Rent zestimate $1,400

Check property on TRULIA
Crime zone = Green = EXCELLENT

Flood zone Search

RENTOMETER
market rent estimate $1,568 - $1,265

Redfin Link

GOOGLE MAPS


Files


CLOUD_cma_lease.pdf

CLOUD_cma_SOLD_comps.pdf

Property-Report_14010-Albemarle-Dr-Farmers-Branch-TX-75234_2017-02-02-22-09-19.pdf

Quick_CMA7783_SOLD.pdf

Quick_CMA8087_lease.pdf

RealistReport_14010_Albemarle_Dr.pdf

Repair_Estimate.pdf





Property Details

Property Status Expired
Location
Price $0
Estimated Repairs $0
Estimated Equity $0
Square Footage
Sq Footage Source
Publish Date February 15th, 2017

Seller Information

Felipe Soares

Bedford, Texas
Member since November 2016


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