Richardson, TX Opportunity

[Brandon Allen]

I was sent a deal from an agent.  The property is in a lower income area of Richardson.  It has plywood up on the walls in the common areas and no floors (demo already done... kind of?) and the kitchen would be a gut to be competitive.

1830 sf

3 bed

2 bath

0.175 acres

1 car garage that has been converted to a shop... thinking we would probably need to convert back to a garage.

Asking price:  $110,000 (could get into a bidding war knowing the Dallas market)

Comps range from 190 - 295K... The closest comp is a 1660 sf flip 0.3 miles away (3/2, 2 car garage) sold for 190k... I'm thinking we may could get $200k for it considering the garage difference and square footage  

The cumulative days on market are 6 or less for all these comps... it would sell fast I believe.

Hit me with your questions and advice on this.  It would be our first flip.