We just inspected this proeprty, we like it and can see good opportunities and potential. The property is located on 1507 Hillwood Drive Mesquite.
LISTING PRICE: $72,000
Type: Short Sale
Repairs: Need a lot of works
Bedrooms: 3
Bathrooms: 2 (Full)
Sq.ft: 1,259
Garage : 2 Full Garage
This is a short sale opportunity and has been on market for a while now.
The MLS photo is showing the older photo and has not been updated.
Schools: Rutherford (Elementary), Berry (Middle), Horn (High School)
These schools are some of the better schools in Mesquite district. The property is no too far away from the schools and near shopping centers nearby (5 minutes drive).
Good Points
1. Double Garage, lots of homes in this neighborhood have converted their garage into family room.
2. Tiles in the living area – all tiles – no need to change, just need to change hallway and bedrooms
3. Bathrooms: Reasonable – no major changes required, re-tiling, some updates but there is no need to reubuild them.
4. Cracks – Yes, there are some cracks but no major foundation issue.
5. 2 Full Bathrooms – most properties here only have 1 bathroom and 1 toilet.
Things that to be fixed:
1. Carpet (3 Bedrooms + Hallway): $1,500
2. Painting (Whole house): $1,500
3. Kitchen Cabinets (Repairs, no need to replace): $500
4. 5 Windows: $1,000
5. Garage Opener: $500
6. Assuming Hot Water Tank is out: $500
7. Assuming Air Handler is not working: $2,500
8.Install some gutters in the front: $300
9. 8 larger cracks on walls: $2000
10. Toilets – re-tiling + new bath-tubs (1): $1000
11. Landscaping: $500
The roof seems to be OK – which may need some patch ups, no visible water damages on ceiling, suggesting the roof should be functional.
Repairs Estimates: $12,000 to $15,000 (rough estimate)
Financial Comparables:
1. Nearby properties: Fully updated properties (one next street) were sold or listed at between $80 to $90 per sq.ft – the ARV is estimated to be: $100,000 to $110,000.
2. Rent: For a 1,259 sq.ft home – it is likely to rent out at between $1,100 to $1,200 a month.
Crime Rate: Lowest
Thomas Su
Realtor
Keller Williams Realty
Email: rwpglobal@gmail.com
Phone: (469) 347 1839
