Lewisville Multi-Family Apartment for sale.
Category Archives: Property Analysis
Texas Investment Property – 323 Teakwood Dr Mesquite
It’s very spacious – but has a lot of stuff inside the property, needs a lot of updates.
Th house is a in rather messy condition with a lot of stuff, it’s hard to see, needs update.
Texas Property Idea – 827 Caladium Drive Mesquite (Tenanted)
Brief Description: Move in ready, nice and cute property but no garage – the garage has been converted into a family room. I went to see this property on a Saturday afternoon, the street was full of kids playing in the front, the street is very well maintained, mostly families, the property is very well maintained, lawns are cut, a very American Suburbia feel as you see on TV.
Listing Price: $99,900
Condition: Move In Ready
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| SqFt: | 1,173 / Owner | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 0 | Cvrd Park: | 0 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | Yr Built: | 1964 / Preowned | |||||||||||||||||||||||||
| Acres: | 0.165 | Lot Dimen: | 120×60 | Will Subdiv: | No | ||||||||||||||||||||||||
| HOA: | None | HOA Dues: | |||||||||||||||||||||||||||
| School Dist: | Mesquite ISD | |||||||||||||||||||||||||||||||||||||||||||||||||
| Elementary School: | Rutherford | Middle School: | Berry | High School: | Horn | |||||||||||||||||||||||||||||||||||||||||||||
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Condition: Move In Ready
Key Points:
1) Tenanted property – immediate cashflow
2) The property is very well maintained
3) The backyard is spacious and with a very cute shed
4) 1 full bathroom + another toilet
5) Move In Ready Condition
6) Nice street, kids playing outside, very safe neighborhood.
7) No garage, but garage door is still there – adding a carport will be a good idea.
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Back on Market – 3801 14th Street – Apt 201 – Plano
BACK ON MARKET 0 FINANCING FELL THROUGH
Properyt Location: 3801, 14th Street – Apt 201 – Plano
Type of Seller: HomePath (Fannie Mae)
Listing Price: $94,500
Recent Comparables: $75,000 to $79,000 range
LIKELY RENT: $1,100 to $1,200 per month
Location: East Plano, schools are good – near the newly developing Headquarters such as State Farm HQ.
Bedrooms: 2
Bathrooms: 2
No. of Levels: 1
No. of carspaces: Carspace (1) (No Cover)
This is a condo listed on – HomePath (Fannie Mae – Foreclosure Property) in Plano.
These are the photos relating to 3801, 14th Street – Apt 201 – Plano.
Condition: Move In Ready, nothing needs to be repaired
Thomas Su
Realtor
Keller Williams Realty
(469) 347 1839
Email: rwp1688@gmail.com
Texas Investment: 708 Grande Dr. Mesquite
This property is located at 708 Grande Dr. Mesquite, Listing Price: $70,000. The tenant currently pays $850 a month and the lease expires March 2015, the tenant is very likely to renew the lease.
1) Location: Older Mesquite
2) Neighborhood – clean, appears to be a blue collar neighborhood
3) Neighbors – The neighbors seem to know each other well, helping each other out – it was a hot Saturday afternoon, so 4 households gathered together drinking beer and play with kids
4) Tenant – 3 young adults, no kids
Location:
It is clean, lawns are cut, trees, well maintained, but older neighborhood, not very noisy, primarily families with kids. Some light industrial warehouses on the main street – which is about 2 miles away.
Schools
The elementary school is within walking distance, it is very new, the building was built last year or the year before – it’s huge with playgrounds. High School is not far away. The schools are average rated (6,6,5).
Good Points
1) No big trees in the front
2) New roof (installed last month)
3) No major problems inside
4) Tenant looks clean (1 girl, her brother and her boyfriend)
5) Tenants don’t seem to be cooking a lot
6) Furnance & A/C work well
7) Backyard is actually nice size (can add more rooms in future)
8) Attached garage (not converted)
9) 2 Full bathrooms
Bad Points
1) Several tiles on floor need re-grouting
2) Smaller home
3) No dining room – there is a small dining area next to kitchen, not sufficient to put in a full sized dining table
4) They do have some cracks (along one wall)
5) Left neighbor has one broken car and put some parts on the driveway – looks they are in the middle of doing something.
6) There is a big tree at back – we will suggest to cut back the limbs
Suggestions
1) Ask the seller to cut back the trees at back
2) Re-grout and fix loose tiles
3) Request an inspection make sure all faucets are working, and no major foundation damage
4) Foundation issue can be fixed later or request the seller to fix them now – doesn’t look to be a major problem, it just requires some touch ups, but I will arrange a quote from foundation repair company.
Mathematics:
LP: $70,000
Rent: $850 / Month
Tax: $1,496 a year
Insurance: Approx. $700
Mgmt Fee: $918
NOI: $7,086
NOI Yield: 10.12%
The seller also has another 2 homes and will consider package deal at better rate.
Crime Rate: Lowest (No incidents last 30 days)
Thomas Su
Realtor
Keller Williams Realty
Email: rwpglobal@gmail.com
Ohio Fixer Upper: 615 N Raccoon Rd, Youngstown, OH 44515
This 3 bedroom ranch needs some TLC, but what a great location. Priced to sell quick. There is a 2 car detached garage and a large lot. Electric has been upgraded.
Location: Austintown, OH (Very Good Location)
Listing Price: US$24,900
Buyer Acquisition Fee: $1,500 (Including Project Management Fee for Renovation)
Tax Assessment Price: US$20,600 (2013)
Sq.t Ft: 1,014 sq.ft
Bedrooms: 3
Bathrooms: 1
Basement: Yes
Garage: Detached (2 spaces)
Condition:
It needs major updates – but it is a smaller property – so the updates should be reasonable.
Unknown Factors
1. Basement needs to be inspected by the inspector
2. Electrical has been updated – but furnace / AC needs to inspected as utilities have been turned off.
3. Roof condition is unknown and would require professional inspection.
Estimate Repairs:
1. Roof (Optional): $3,500
2. Furnace (Optional): $1,500
3. Painting: $1,500
4. Carpet & Flooring: $1000
5. Flooring: $1,000
6. Kitchen Update: Stove plus cabinet repainting and repairs: $1,200
7. Bathroom Update: Approx. $2,000 – we don’t think it needs a complete rehab
The above cost excludes potential repairs maybe required for basement – this is subject to inspector opinion.
Estimated (rough): $10,000 to $12,000
Savings can be achieved if roof is in acceptable condition, and also furnace.
ARV Estimate:
Comparable sales in this area – properties around 1,000 sq.ft are priced at around $50,000 to $60,000 range around this neighborhood, there was a house sold for $65,000 in this area reasonably. This property was sold for $57,400 back in 1999, and price had been climbing in this area to around 1999/2000 level.
As a conservative target – we believe the ARV will be around $55,000 range. 
Fixer Upper – Texas – 1507 Hillwood Dr. Mesquite
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
Texas Condo Idea: 4422 Point Boulevard #112 Garland
Property Description
Newly remodeled 1 bedroom, 1 bathroom, first floor unit that is close to Lake Ray Hubbard and lots of shopping. The quaint condo has new tile in the dining area and new carpet through out with newer appliances.
Pool just steps away from patio with excellent view during dinner time. Condo includes fireplace and assigned parking space for your buyers convenience. Minutes from I-30 and GB Freeway for your commuting convenience.
Special Point: Very close to the lakeside – nice environment. HOA includes all the exterior maintenance, large swimming pool for the community, newly updated and close to shopping and schools.
Schools: Garland ISD can choose your own school.
SqFt: 657* / Tax
Yr Blt: 1983* / Preowned
Bedrooms: 1
Bathrooms: 1
Unexempt Taxes: $598*
HOA Fees: $189 / Month
Estimated Rental: $580 to $600 per month
Listing Price: $39,000
Financial Pro Forma (Est Only)
Gross Income (Assuming $600/mth): $7,200
Expenses:
HOA: $2,268
Tax: $598
Management Fee: $720
Insurance: $300
NOI: $3,314
**Excluding maintenance items, allowance for vacancy period**
Gross Yield: 18.4%
NOI Yield: 8.5% or Lower
Crime Rate: Low
Click Here For SpotCrime Report
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Suite 150 Dallas TX 75252
Email: rwpglobal@gmail.com
Phone: (469) 347 1839
Ohio Cashflowing Property – 2917 Shady Run Rd,Youngstown
This is a cashflowing property, already tenanted, this is for those who are seeking immediate income opportunities.
Property Description
Cash Flow Property 3 Bedroom 1 Bath Ranch. Rent is $475 a month to YWCA Tenant currently in lease. Large Deck off the Back. Forced Air – Laundry Room – Main Floor Bathroom.
Possible Price: Approx: $23,000.
Sq.Ft: 864 sq.ft
Bedrooms: 3
Bathroom: 1
Carspace: 1
Year Built: 1958
School District: Youngstown School District
Current Rent: $475 per month
Tenant Type: Section 8 Tenant
Crime Rate: Lowest
Click Here For the Crime Rate Report
Strategy: This property is for those seeking immediate cashflowing properties – this is leased to a long term tenant. The location is an average location, the property is a small property and can be easily maintained. It is currently managed by a professional management company.
Texas Investment: 1315 Sutters Way Mesquite
This is a very nicely presented home in Mesquite. I like Mesquite as it has many nicely built properties and I am familiar with subdivisions that have good schools, the rent has been going up in Mesquite as well, making it as an attractive investment choice.
Property Description: This sparkling, updated one story is move in ready! Great architectural features & lots of light throughout make this one a gem. New paint & carpet throughout. Recent improvements include new ac unit, new roof, new fence- all within in the past two years. Beautiful and quiet neighborhood, large eat in kitchen, 3 bedrooms plus a study and priced to move fast.
Original owners, other improvements include water heater in 2007, dishwasher in 2006, microwave in 2012, new electric panel in 2010. Great home.
Listing Price: $147,000
Condition: Move In Ready
Sq.Ft. 2,001
Year Built: 1994
Bedrooms: 3
Bathrooms: 2
Garage Spaces: 2
Possible Rent: Based on average $0.75 to $0.80 per sq,ft – $1,400 to $1,600 per month as the likely range.
Schools:
Smith (Elementary)
Berry (Middle School)
Horn (High School)
Crime Rate: Lowest (No incidents reported last 30 days)
Click Here To See SpotCrime Map
Contact Details
Thomas Su
Realtor
Keller Williams Realty
Preston Rd Dallas.
Email: rwpglobal@gmail.com
Phone: (469) 347 1839
International Investors
Looking for financing to acquire Texas properties? We work with Cathay Bank who has 2 programs to provide financing for international investors. Non-Resident Investor or under a LLC to apply for Commercial Loans. Please contact us if are interested to know more about this program.
