Analyzing a deal in Alief/Sugar Land, Texas

[Jai Koolwal]

Hi Folks ! 

Trying to analyze a deal with a turnkey dealer for a 2 BDR town-home at "Panther Point Drive, Houston, Texas, 77099". They have a negotiable price at 169K. The property has a tenant with a rent of 1350 pm. They have a maintenance/property management fee of around ~$ 80. 

Looking at the neighboring homes at Zillow, Realtor and Redfin, I feel a ~145K price tag would be a fair market value for the home. Wondering what the thoughts are about this price point for folks who are familiar with the neighborhood. 

Also, I am trying to get a feel of the area in general. Is this considered an A/B/C type of neighborhood? What's the safety like there and chance of appreciation?

Appreciate any feedback.

Thanks

Jai

[Raul Flores]

So it is a town home right? Mean you have to pay association fee right? I feel a little expensive, also looks like for the rent you are getting 0.79%, the rent doesn't reach the 1%, that's very low. Can you increment the rent in that area? Probably you will need to study the prices on that area.