Deal or no-deal?

[David Tankersley]

I have potential deal that could be enticing to an investor, but at face value the numbers don't look great to me at all. That said, it could be workable and so I'd like some 2nd opionions before saying no.

The house is in Fort Worth

This is a 3/2 840sf home built in 1946

Property is rented at $550 monthly

Seller wants no less than $38k

ARV Comps that I see in the area average about 52k. The houses could stand some upgrades. All I know at this time is that they are livable but not updated.

At face value this is no deal at all. However, he needs cash and he is willing to take 19k down and seller finance the balance.

He also has two additional (and basically identical) properties on the same street that he is willing to offer-up as well under similar terms.

Based on this info, is there a deal here?