Dallas-Fort Worth Real Estate Investor Club

4/2 Buy & Hold Rental in Forest Hill

  • 28 Feb 2017 12:55 PM
    Message # 4639721

    Off-Market home in Forest Hill that is ready for a buy & hold investor. Average rents are $1,643.00 for 4 bedrooms according to Rentometer.com. Located South of the 20 freewqy, between the 35W and 820. Permitted garage conversion gives you a small 4th bedroom/office and a den. Good bones, foundation inspected by Jim Sinclair and no foundation work needed.

    Roof can last for a few more years with repair. Hot water heater is 14 years old and running at 107 deg, so its good for now. Water pressure is 70 PSI and no visible leaks. HVAC needs servicing and return air temp is 71 deg. so you can get a few more years out of it. 

    Needs paint, carpet/vinyl, some tile work/plumbing in bathroom, new sinks and faucets. Needs fans and lighting updated for rental to make ready. Do a lipstick rehab for now & hold for a few years as area appreciates, and rehab for sale in the future. Please do your own due diligence. I have photos, videos, Suzette's comps, inspection report, foundation report, and 4 full rehab flip bids uploaded.

    Here's The Deal!

    • Estimated ARV: $160,000.00
    • Flip Repairs: $50,000.00 -  $60,000.00
    • Rental Repairs: $25,000.00 -  $35,000.00
    • Price: $84,500.00

    Property Details

    • 4 Bedrooms, 1.5 Baths
    • Permitted Garage Conversion
    • Built 1977
    • Inspection Report Available
    • 1,748 sq. ft.
    • 11,135 sq. ft. lot
    • Average Rents $1,643.00

    Terms

    • Cash Only
    • $3,000 Non-Refundable Deposit
    • Buyer pays ALL closing costs
    • Close Date 03/15/2016
    • Agents add your commission to sales price

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