***REDUCED*** East Dallas 75218 - 3/2/2 Near White Rock Lake
1,196 sf / 3 bed / 2 bath / 2 car garage
7,884 sf lot / brick / pier and beam / built in 1959
ARV: $230,000
Repairs (Flip): $25,000
Repairs (Rental): $10,000
Market Rent: $1,400 - 1,600
Price: $160,000
Terms:
- Cash or hard money only
- $3,000 non-refundable deposit
- Buyer pays all closing costs
- Property to be sold as-is
- Agents add your commission to purchase price
- Please do your own due diligence before signing contract
Description:
Lots of potential in a great neighborhood in East Dallas. The Lochwood neighborhood is near White Rock Lake and trendy Casa Linda, and has seen great appreciation the past few years.
This house has been well cared for, but has not been updated cosmetically since it was built in 1959. All major systems (roof, electrical, plumbing, HVAC, foundation) appear to be functional. Note that the house is on a main road (Jupiter), but is set back from the road with a long driveway and detached garage. ARV has been adjusted for this. The house next door which also faces Jupiter was sold earlier this year for $275k (it was 400 sf larger).
This would also make a great rental to collect some cash flow while the neighborhood continues to appreciate. As a rental, it really doesn't need much work except for whatever cosmetic updates you want to do to get maximum rent. This is by far the cheapest house currently available in the neighborhood.
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