Real Estate Agent · Plano, TX · Member since 2016 · 291 posts · 10 votes
This is a tenanted rental which already meets the 1% rule, and is almost $400/mo UNDER market! This is a 3/1.5/1 1150 sqft brick house near Bonnie View/Simpson Stuart in south eastern Dallas. This is an up-and-coming area where both rents and sales are appreciating VERY quickly! For a rental, either leave it as-is and collect $805/mo (tenant has been there for 5+ years), or you can put ~15K into it and get market rents at $1200/mo (see comps--very healthy rents here!). It also has enough equity to flip it for about a $10-20K net profit, depending on whether you use cash or HM.
Price: $79,000
Rehab: $0 as-is, $15K for rental rehab, $20K for flip rehab