Dallas Fixer Upper For Sale – High End Home
Dallas Fixer Upper Contract For Sale . The main home features 2 bedrooms, 1 bath (1,111 SF) in Lafoy Place just outside prestigious Highland Park. There are options with this house and could be bought as a rental, a remodel, a remodel with addition or tear down and rebuild. Lots are going for $300 – $400k in the area and tear down/rebuilds are going for $1.25 million. Most homes in the neighborhood don’t have a 2004 built 770 SF garage with a 770 SF upstairs apartment already built.
Scenarios:
Remodel with 1,200 SF Addition
Estimated ARV: $700,000
Purchase Price: $337,000
Construction: $200,000
(1,200 sf x $125 per foot addition, $50K remodel of existing house)
Equity: $163,000
Remodel As-Is
Estimated ARV: $600,000
Purchase Price: $337,000
Construction: $80,000
Equity: $183,000
We ran comps a back to 2017 to get a good idea of the size and scope of homes sold in the neighborhood. All of the sold comps are larger than the main house and many tear down/rebuilds have been completed. We recommend adding square footage to maximize value.
Contact Lance at 214.914.1881 Today!
Details:
First person to issue a $5,000 non-refundable deposit to us will get this property.
Closing On or Before September 20th, 2019
$5,000 Non-Refundable Deposit
Title is open on this transaction and will not be moved.
Buyer is responsible for ALL Closing Costs
Property Sold As-Is
This is a wholesale transaction. We hold the contract on this property with equitable interest. We are selling our equitable interest to a third party.
Call or Text Lance for more details at 214.914.1881