MUST SELL: 70% Houston Heights Flip - 229.9/120/500

[Lyall Storandt]

Greetings!

We have a great new property available in the Brooke Smith area of the Houston Heights.

This property sits on a corner lot and will need a ~ 540sf. addition in order to hit the target square footage of 1,800sf. I'd recommend building a two-car garage behind the existing structure with side-street access and livable square footage above. That area plus the added square footage of tying the two spaces together should easily get the property to 1,800+ sf. The layout of the existing structure will need to be re-worked and will need to be fully rehabbed as well. Plenty of comps. suggesting that an investor can speculate some on the ARV.

Could also work as a tear-down / development deal as it is selling for lot value.

Call me directly at 405-361-1341 if you're interested in this property and have a verifiable proof of funds!

Price: $229,900.00

Rehab: $120,000.00

ARV: $500,000.00

Sherman Bridge out-of-pocket expense: $51,642 / Estimated pure profit: $101,986 / Cash-on-cash return: 58%

Square footage: 1,264

Bedrooms: 4

Bathrooms: 1

Garage: N/A

Year built: 1920