Updated over 9 years ago on . Most recent reply
SFH Deal in Dallas, TX
Hi all,
I have a prospective deal in Dallas, TX. Its relatively small, but here it goes anyway.
2Bd 1Bath 725 sqft asking price is $45,000
Expected rent is $750/month (the tenant who moved out a week ago was paying this and so are the tenants of my broker in a similar home and neighborhood 3 minutes away)
It is in a low-end neighborhood, but the demographic of the neighborhood seems to be older and/or more settled small families. I have been to the house twice, once with the seller and once by myself to check the area and just get an overall feel for the place. Its quiet and sort of rundown, but there are only a couple of houses that don't appear to be occupied or relatively taken care of.
The home itself is move-in ready, but needs some minor repairs to keep it that way. The immediate repairs that I would make are more cosmetic than anything, with the exception of a could of rotten would panels which the seller will replace prior to close.
The seller is not listing this property on any sites and is in essence offering to sell to me first so I am eager to give it through consideration.
My issue is with the asking price of $45k. Its low for a house in Dallas, but I am more comfortable with a price around $36k.
What do you guys think about the overall deal?
What are your opinions on lower-end SFHs?