DEAL BREAKDOWN:
AMAZING opportunity in the "Holly" area, just east of Downtown Austin and 5 minutes from Rainey Street Historic District.
The property sits on a great corner lot, optimally located around the corner from the Metz Neighborhood Park, The Ann and Roy Butler Hike and Bike Trail, Colorado River/Lady Bird Lake, and walking distance to many great restaurants in the area.
SPECS:
Bed: 2 (Enough size for a 3rd)
Bath: 2
Sq ft: 1,320
Lot Size: 0.
1564
Year Build: 1932
REHAB NEEDS:
Cosmetics and landscaping! Majors appear to be solid.
Per the seller, the home was remodeled approximately 5 years ago with new central AC, new 2nd bathroom, refinished hardwood floors, updated electrical system, and updated foundation.
No funky additions, easy layout to work, and great bones.
VALUE POINTS:
Selling $200k under 2023 county appraised value ($899,380)
Walking distance to Colorado River, Ann and Roy Butler Hike and Bike Trail, and Metz Neighborhood Park
One of the cheapest available single family houses within a half mile radius
ACCESS: Call or text me to set up access
COMPS BREAKDOWN:
2202 Haskell St #2: 2 bed | 1.
5 bath | 899 sq ft | 0.
06 acre lot | 14 DOM | 1929 year build | Sold for $650,000 | $723.
03/ sq ft | Closed 05/2023 | This house is a nicely done rehab, but is much smaller than us, with a tiny lot size and no carport.
73 Mildred St: 2 bed | 2 bath | 805 sq ft | 0.
06 acre lot | 78 DOM | 1940 year build | Sold for $650,000 | $807.
45/sq ft | | Closed 06/2023 | This house is also the closest comp to us as it is directly behind our house.
TINY lot size
1803 Garden St: 2 bed | 1 bath | 1028 sq ft | 0.
142 acre lot | 49 DOM | 1953 year build | Sold for $730,000 | $710.
12/ sq ft | Closed 08/2023 | This house was a very basic rehab.
Poor choice of colors and materials, but still has an old historic feel to the home with the tile countertops and bathroom.
Could have been a much better cosmetic rehab
2704 Canterbury St: 2 bed | 2 bath | 1105 sq ft | 0.
19 acre lot | 49 DOM | 1949 year build | Sold for $825,000 | $746.
61/ sq ft | Closed 03/2023 | This house is on our street.
It was very outdated and definitely a fixer upper.
Smaller than us, and in much worse condition and sold for $825k!!!
1611 Holly St: 2 bed | 1 bath | 804 sq ft | 0.
18 acre lot | 4 DOM | 1927 year build | Sold for $850,000 | $1,75.
87/ sq ft | Closed 6/2023 | Nice rehab with cute curb appeal.
Significantly smaller than us with a narrow kitchen and cosmetic updates inside could have been better, but sold for $850K with extremely low days on market!
1809 Holly St: 3 bed | 2 bath | 1,715 sq ft | 0.
16 acre lot | 37 DOM | 1930 year build | Sold for $1,140,000| $664.
72 | Closed 7/2023 | All around nicely done rehab with lots of character and curb appeal
COMPS NOTES:
The average sold price per square foot of our comps was $787.
97.
When calculating our value with a VERY CONSERVATIVE price per square foot of $700, our ARV comes out to $924,000.
(1,320 square feet x $700 = $924,000)
PRICE: $650,000
ARV OPINION: $925,000+
CASH OR HARD MONEY LENDING ONLY
ONLY END BUYERS PLEASE
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