Huge House Cosmetic Fix and Flip Analysis

[Austin Hughes]

Hey BP'ers!

I've been listening to the new BP podcasts and catching up on all of the ones that I missed. So much knowledge being gained! The most recent one reminded me that I need to be active on the site as well as learning from its' resources. So here is this deal I am thinking about moving on!

Location: Rich Suburban Neighborhood in Kingswood (northeast Houston)

Square Footage: 3500

Bedrooms: 4

Garage: 2

Bathrooms: 3.5

Est. Repair Costs: $25,000 (cosmetic only)

Price: $287,000

After Repair Value: $390,000

Year Built: 1990

A few facts:

Average comps in the area are $114/sq. ft.

Average DOM for the comps is 32 days.

The last owner had a mortgage of $408,000 on it.

I think this is a great deal needing minimal work in an area that is very desirable!

I'd love to hear what you guys think about it!