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Updated over 4 years ago,

User Stats

1
Posts
1
Votes
Thomas Taylor
  • New to Real Estate
  • Durham, NC
1
Votes |
1
Posts

Analyzing a potential deal

Thomas Taylor
  • New to Real Estate
  • Durham, NC
Posted

Hey everyone, I'm brand new to real estate investing, but it's something that I've spent a good amount of my time researching and reading on.

I found a potential deal on zillow/redfin for a "fixer upper" that doesn't seem to actually be a fixer upper. 

It is posted on zillow for an asking price of $335k, and the post claims that the paint and carpet is brand new. Looking at the pictures, it seems that those claims hold up so far. Looking further into the pictures, the light fixtures, kitchen appliances, plumbing all look to be in great condition. I've not yet visited the property, but the only thing I can see that needs some repair/love is the backyard fence.

Looking at the neighborhood, the houses on the same street are at a minimum of $405k (500 square feet less). For comparable square footage, the house right across the street is selling for $478k. I understand that I shouldn't follow this to the tee, but Zestimate estimates that this property is worth $448k.

What is everyone's thoughts on this?