Rare Flip Opportunity Near White Rock Lake

[Allison G.]

ARV: $289,000

Rehab: $40,840
Price: $184,000

Deposit: $3,000
Close Date: April 9, 2018
This is an assignment on contract, no double-close fees.
Buyer pays all closing costs.

A rare opportunity for a flip in extremely desirable Lake Highlands. This property sits on a good sized lot within walking distance of White Rock Lake and minutes from Casa Linda shopping and entertainment. This is a great deal where we project more than 22% equity capture.

Comps:
1) 836 Lake Terrace Dr: 3/2/1, 1,442 SF. Sold at $362,000 in 11 days. This property was mostly updated but retained some of its original features.

2) 881 Lake Terrace Dr: 3/2/2CP, 1,508 SF. Sold at $390,000 the same day it was listed. No interior pictures for this property but the speed of the sale indicates just how desirable this area is.

3) 9735 E Lake Highlands Dr: 3/2/3, 1,547 SF. Sold at $404,000 in 2 days. A comprehensive remodel similar to what our budget includes. An extra two-car detached garage boosts this property’s value.

The rehab budget includes:
Roof
Water heater
Electrical
Windows
Hardwood refinish and tile
Paint
New cabinets, granite countertops, and backsplash
Stainless steel appliance package
New bathroom vanity, toilet, tub, and tile surround
Front and back doors
Garage door
Exterior work
Miscellaneous
Demo

Please ask about our Project Management and Property Management Services

*Information provided is estimated and not guaranteed. Please do your own due diligence.
Whitestone Acquisition owns a contract for sale on the Subject Property and does not own actual title