Real Estate Deal of the Day Houston – October 21, 2020
1108 Armor Avenue Pasadena Texas 77502
October 21, 2020
MLS No. 36995815.
Hello everyone! Welcome to Real Estate IQ’s Houston Deal of the Day. Our subject property is at 1108 Armor Avenue, Pasadena, Texas, 77502. The MLS number of the property is 36995815. The property has a list price of $95,000 and the list price per square foot is $74.33. Based on the sold comps, the estimated price of the property is $138,250 and the estimated price per square foot is $108.18.
The subject house is a single-story residential property with three beds and one bath. It was built in 1954 with a square footage of 1,278. The property is near East Sec 02 Subdivision.
For the comparables, we selected the best three properties. The first property is at 1212 Valerie Avenue. It has a price per square foot of $127.61 and it is 0.12 miles away from our subject property. It has a list price of $164,000 and the property was sold at $171,000.
The second property is at 2143 Embe Street. It has a price per square foot of $77.87 It is 0.17 miles away from the subject property. It has a list price of $91,000 and it was sold at $82,000.
The third property is at 920 Trimm Avenue. The price per square foot of the property is $119.05. It is 0.18 miles away from the subject property. It has a list price of $145,000 and it was sold at $145,000.
For the investment summary, the estimated value of the property is $138,251. If you are going to offer it for $95,000, you will get an IQ discount percentage of 31.28%, and that is equivalent to a $43,250 IQ discount. If you are going to purchase this property for rental, the property has a monthly lease of $1,292 which results in a good rental index of 1.36.
That’s all for our Deal of the Day. Thank you for tuning in and have a great deal-finding day! At Real Estate IQ, we are ready to equip you with the investment tools you need to win deals. Check our tools here.