Description

Assignment Contract Offered By A Wholesaler At: 8822 San Leandro Dr, Dallas, TX 75218 This is one of those unique properties that has value in several different ways.  I’m happy to hear your feedback, and excited to see what this property could turn into.  SO, here are my thoughts: Option 1 – Rent As Is: This is the option I will take if I close on it myself.  I would simply rent it as is (minor cosmetic repairs needed) and let the dirt continue to appreciate.  I think your could get $1,250 – $1,400 with the current condition. Option 2 – Rehab and Sell:  I believe you could spend between $50,000 and $80,000 to modify the floor plan and make this home worth $375,000 – $425,000.  It is currently a two bedroom, two bath, two story property with a detached garage. Option 3 – Scrape, Build, and Sell: This seems to be the most common approach in the neighborhood, but you’d have to be able to execute on the building plans.  The most applicable comp/strategy would be the property at 8931 Daytonia Avenue.  A 2,897 home was built there in 2017 and sold for $775,000 on 09/01/2017. Option 4 – Scrape, Market Build to Suit:  I’ve seen this in many neighborhoods like Little Forest Hills.  Builders are getting the lots cleared, and waiting for a custom build opportunity.  The clearest evidence of this would be the home across the street. Asking Price: I think it’s worth $280,000; but I’m open to offers. Value:  That’s up to you. Closing Date:  Mid to late June Deposit: Due to the unique nature of this property, a $10,000 deposit will be required when title is clear.



Property Details

Property Status Available
Location 8822 San Leandro Drive, Dallas, TX, USA
Price $280,000
Estimated Repairs $300,000
Square Footage 1251
Sq Footage Source tax_records
Estimated ARV $775,000
Estimated Equity $195,000
Bedrooms 2
Bathrooms 2
Garage Size 2
Year Built 1938
Sellers Disclosure I have equitable interest and am assigning my rights to purchase this property
Publish Date May 23rd, 2018

Seller Information

Tim Herriage

Member since April 2015
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