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Attention Real Estate Investor: Houston TX 3 Bed and 2 Bath with 2 Car Garage. Get cash flow along with long-term tax depreciation! Tons of Potential for a Great Rental or Rehab Property. Nearly already rent-ready condition!
Occupancy Status: Vacant
Access: By Appointment - Lockbox
Rent Estimate: $1,700/mo
Walkthrough Video:
https://drive.google.com/file/d/1-WIfmVPZCu_iDwSRC6AmvQ-MfkmbCLmv/view?usp=sharing
ARV Comps:
502 Kenwood Ln, Houston 77013 - Sold for $239,440
515 Wood Vista Dr, Houston 77013 - Sold for $223,620
607 Wood Smoke Dr, Houston 77013 - Sold for $220,160
526 Wood Smoke Dr, Houston 77013 - Sold for $194,800
Comps: Note - (Any public record sale prices could be close estimates due to non-disclosure state regulations)
Rental Comps:
- 12223 Woodcliff Dr, Houston, TX 77013 - $1,700/mo
- 11631 Badgerwood Dr, Houston, TX 77013 - $1,800/mo
- 730 Mercury Dr, Houston, TX 77013 - $1,750/mo
= Strategies =
Fix/Flip:
Purchase Price $145K + (Rehab) $15k = (Total Investment) $160k
(ARV) $220k - (Total Investment) $160k
= (Gross Profit) $60k
Buy & Hold Rental:
Purchase Price: $140K + (Rental Rehab) $10k = (Total Investment) $150k
(Rent Rate) $1700/mo +
Meets 1% Rule:
The property exceeds the 1% rental rule, indicating strong rental income.
BRRR Method: (Refinance $155,000 at 7% Interest rate)
Purchase $145,000 + Rehab $10,000, Refinance $155,000 at 7% (75% of $155,000): (Loan Payment $773 + Taxes $276 + Insurance $100 = PITI $1,150 | (Rent Rate $1,700 - PITI $1,150)
= Monthly Cash Flow $550 | 17.03% Cash on Cash Return
Property Highlights:
2-Car Garage
Brick Structure
Title Flooring
Some Updates
Needs Attention:
Older Roof
Fence Repairs
Cosmetics
Closing Title Company: Closeline Settlements
Call or Text to Schedule an Appointment
314-222-7171
______________________________
Contact Us:
To view or make an offer, please contact us by calling or texting 314-222-7171 or emailing pricereidispo@outlook.com.
How To Buy:
If you're interested in purchasing this property, you can download and fill out our as-is contract package by clicking the "Submit Offer" button. Please note that these properties sell quickly, typically we accept an offer within 24-72 hours. Closings are to be held with our preferred title company listed here or on our site.
How We Work With Realtors:
Your commission is to be added to the wholesale price of the property being offered. Because these properties are at a deep discount there is plenty of "spread" to add on a commission. All of our properties close at the title company listed on our site or purchase agreement so standard commission instructions can be faxed or emailed and paid at the close of escrow.
Please note that we only work with serious cash buyers, and closings will take place at our preferred title company. A $5,000 non-refundable deposit (EMD) is required upon acceptance which will go towards the purchase price.
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*Seller of these properties either owns or has equitable contractual interest in the properties marketed.
**All properties are sold for cash or hard money only. Buyer to verify all information and funds. $5,000 non-refundable earnest deposit is required.
***Seller has exclusively relied upon the information listed within the MLS and Property Tax office to determine all measurements including lot size, square footage, number of bathrooms, number of bedrooms, number of total rooms, zoning, permitted and prohibited uses, construction materials, parking, year of construction, potential value, and all other pertinent data relating to the physical improvements and land area of the subject property. Buyer acknowledges and accepts that Seller makes no representations and warranties of any kind, whatsoever, as to the actual conditions that may exist within or around the property, and Buyer acknowledges that it has conducted its own investigation of these facts, and is purchasing the subject property based upon its own conclusions. Buyer expressly acknowledges that it is purchasing the property in "as is, where is" condition.
****All properties Subject to errors, omissions, deletions, additions, cancellation. All properties sold as is, where is with absolutely no representations written or oral. Buyer is to do their own independent due diligence. Buyer to verify all material facts including square footage. Property will not be considered under contract until signed contract and deposit received with all contingencies removed. Sales price is net to seller.
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