Plano-North Dallas FLIP ARV: 339K
This is a great house in a very solid neighborhood near Parker/Custer in central Plano--I am very familiar with this neighborhood, as I live very nearby! It is a 4/2 2455 sqft brick ranch with a very nicely done 2 car garage, and newer pool. While it does have a converted garage, the carport is covered with a door--so it still has a very functional and protected parking area, with the benefit of added square footage in a neighborhood which garners up to $169/sqft. I priced this one at $138/sqft due to its larger size and discount for lack of garage, though the price would be about the same if you reconverted back to a 4/2/2 2035 sqft house.
Rehab: good news--the roof will be replaced in an insurance claim (I had roof replace in the budget), and the pool and equipment are 8 years old (pool equipment hasn't been run in 6 months or so, but it all functions properly), so we are looking at some foundation and interior cosmetics! For flooring, to save a good chunk of change, I would do the PVC board, which looks great and is waterproof--Ideal Flooring will install it for $3.75/sqft!
Pros:
- Central Plano--great schools, low DOM!
- Newer pool--nothing to do but drain/clean
- Good size for the neighborhood
- Versatile floorplan
Cons:
- Converted garage--many in this neighborhood have a converted garage with a covered carport
- Galley kitchen--nothing you can really do about it, but it is common in this neighborhood.
Price: $254,000
Rehab: $37,000
ARV: $339,000