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