Remodeled Investment, 2 Miles to TAMU

[Kathy Scott]

Investment Info:

Single-family residence buy & hold investment in College Station.

Located within 2 miles of Texas A&M University, and easy bike ride to campus or short walk to the TAMU bus route. This 1960s home has been completely remodeled and well maintained over the years. The boxy 1960s ranch style home reconstructed opening the living, dining, and kitchen into one large functional space. Vaulted living room ceiling with extra large windows gives the living room a warm and grand feel. Features such as crown molding and shiplap walls were added. New windows, HVAC, water heater, and added insulation help the energy efficiency of the home. New flooring throughout the home, gutted and remodeled kitchen and bathrooms add a new look to the home. The location makes this property a great rental property.

What made you interested in investing in this type of deal?

This home located within 2 miles of Texas A&M University makes an excellent rental investment. We look for investment properties that are suitable rentals for students and/or families. This home is walking distance to an elementary school, middle school, and high school, and an easy bike ride to TAMU. Many homes in this area built in 1950s and 1960s have one bathroom. We liked that this home has two bathrooms. The corner lot and mature trees add to the appeal of this property.

How did you find this deal and how did you negotiate it?

We found this home through another listing broker.

How did you add value to the deal?

This is a long term hold, and we have continued to remodel and update the property over the years. Opening up the living room/kitchen/dining, as well as replacing kitchen and bathroom cabinets and countertops added the greatest value to the home over the years.

What was the outcome?

Bought at a good price, long term hold, and increased market values has made this property a good rent return and excellent cash flow.