Cyber Monday Discount East End/Lawndale Houston Flip Deal! 60%ARV

[Tim Shin]

Easy flip inside 610 near Lawndale/Wayside of the Greater East End! http://www.hotdealoftheweek.com/470636

This house is 1768 sq ft and is currently a 3 bedroom, 1.5 bathroom home with all bedrooms upstairs. Easily converted to a 4 bedroom 2.5 bathroom home with a master suite downstairs as part of an approximately $50k rehab. There is an approximately 15.5 ft x 11.5 ft of unused space to accommodate the master suite with master bath. Easy access for easy plumbling work due to pier and beam foundation (no tunneling needed) and there is a clean out just a few feet away from where the master bathroom is being proposed to be put.

The house is in very good shape inside with original hard wood floors throughout except wet areas. Foundation looks level. Kitchen has plywood cabinets with granite counters. One could choose to keep them and refinish or replace them. Here is a link to the pics:

https://www.dropbox.com/sh/gt16gwgaqvwvskm/AABX5IqU6s45zusBzdlxPCbJa?dl=0

Rehab would include:

1. Partial to full siding replacement)
2. Garage door replacement
3. Window replacement (optional; most of them work fine)
4. Roof replacement (23-25 squares)
5. Add master suite in dead space
6. Basic TLC (Kitchen remodel, paint inside, refinish wood floors, exisitng bathroom remodel)

Comparable sales are:

1. 6616 Fairfield (1646 sq ft; $343,500): $208.69 per sq ft

2. 1803 Pasadena St (1700 sq ft; $355,000): $208.82 per sq ft
On the next street as subject

3. 1745 Idylwood (1687 sq ft; $$359,000):$ 212.80 per sq ft

4. 6635 Lindy (1745 sq ft; $386,900): $221.59 per sq ft

Average price per sq ft: $215.23

Please note that all comps are 3 bedroom and 2 bathroom. Subject would be a 4 bedroom 2.5 bathroom home after remodeling. Applying an adjustment of $7,000 for extra bedroom and $3,000 for extra half bathroom:

After repair value (ARV) = 215.23 (price per square feet) x 1768 + 7000 + 3000 = ~ $390,500

Cyber Monday price: $210,000
Remodeling budget: $50,000
ARV = $390,500
Deposit: $5000 (non refundable)

Please email [email protected] for showings