October 22, 2020

Real Estate Deal of the Day DFW Metro – October 22, 2020

Deal of the Day
Deal of the Day Dallas Fort-Worth

#1512 Carnation Drive, Lewisville, Texas 75067

October 22, 2020

MLS number 14415319

Welcome everyone to Real Estate IQ‘s Dallas Fort-Worth Metro’s Deal of the Day (DOD). Our property for today is located at #1512 Carnation Drive, Lewisville, Texas 75067. The property is listed at $130,000 with an estimated price of $215,909. It has a list price per square foot of $81.30, while the estimated price per square foot is $135.03. This property is listed on August 16, 2020. It is a single-detached property that was built in 1973 and has four beds, two baths, two car ports, with a total square feet of 1599.

For subdivisions and schools, the property is near Garden Ridge Estates 1, and it’s inside Lewisville ISD. The MLS number is 14415319, and the listing agent’s name is Michael W. Brendel. The listing agent’s contact information or phone number is (469) 774-6655.

Now, for the comparables, our system pre-selected two comps. The first one is located at 1398 Cherry Hill Lane with a price per square foot of $107.41. It is 0.45 miles away from the property, and it was sold for $200,000; that is not that far from its list price of $209,000.It is a one-story residential property with three beds and two baths, built in 1973.

Meanwhile, the second one is located at 917 Summer Trail, which is a one-story residential property with a price per square foot of $162.64. It is 0.38 miles away from the property, and it has a list price of 289,900 and was sold at $283,000. It was built in 1982 and it has three beds and two baths as well.

First comp was listed 62 days ago, which is around 2 months. While the second comp was listed around 30 days ago, which is about a month. The first comp was sold within 10 days and the second comp was sold within 19 days. So basically, within two to three weeks,both properties were sold.
For the investment summary, based on the comps from our system’s calculation, an estimated price of $215,909, and a monthly lease of $1,560. As for the asking price or offer price of $130,000, our system was able to compute a discount percentage of 39.79%, which is a good number. These numbers tell us that this property is good for buying and flipping or wholesaling. The rental index based on the monthly lease is 1.2, which tells us that if you buy and hold and have it rented, it’s also a good property to invest in.

That’s it for our Dallas, Fort Worth Metro Deal of the Day. Thank you so much for tuning in and happy deal-hunting!

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