The Real Estate IQ Deal of the Day features good looking high-potential deals. Every day, from Monday to Saturday, we have a deal expert who uses our system to find deals with high opportunities. We analyze it and talk about. We want to share with you what a good deal should look like, and the factors that you should consider when you are analyzing real estate investment deals. This is a good educational piece that you should not miss, especially if you are just starting out in real estate investment. Watch it now, and enjoy learning!
Good morning Austin & San Antonio! This is Steve Liang and Joseph Sun de la Cruz with Real Estate IQ. And we found a really good real estate deal of the day in the Austin, San Antonio area and we want to share this with you.
Today, we are in the Austin market looking at a property brought to us by the MLS DEAL FINDER system that has some potential for a fix and flip opportunity. The subject address is 8400 Antero Drive in 78759. And the property just hit the market today. It’s listed at 299,900 with an estimated after repair value of about 409,000. And that makes for a gross discount off of the after repair value of 109,000, about 27% off market value. The subject property is located in the Great Hills Subdivision and it is a 2-bed, 2-bathroom, single-story property, built in 1972 and is sized at 1371 square feet. So it is priced at just below the $220, $220 per square foot range. And here you can see we’ve pulled up a sold, comparable in the same subdivision that was sold for 375 and it’s slightly smaller. This was sold before the summer of last year. And now if we take a look at the map, we can see that we are in the 78759 area again, that’s kind of the Northwest Austin area, off of MoPac to the east and the capital of Texas highway to the, to the northwest. Zooming in, you can see our subject property and the comparable property just down the road.
And unfortunately we don’t have a street view, right off of Antero Drive, but we can see the nearby road that fits into that area. And you can see these are actually, townhomes. Let’s see if we can get a better shot from here. Now, it looks like there’s a lot of, a lot of trees blocking the view from the main road that leads into, the townhome complex. However, we can take a look at the photos to get an idea of the the interior condition. Now this subject property is listed at a steep discount and due to the fact that the interior is outdated and needs updates, as evidenced by the photos here. However, we can see the comparable property here, which was renovated very recently updated to a very modern, clean style. And that gives you an idea of what it would take to bring this subject property up to the 400,000 or so.
So that concludes the Deal of the Day for today. I hope you enjoyed this video. Please stay tuned for more.
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