This is a really nice home just outside of Preston Hollow in North Dallas. The home has had a lot of interesting upgrades and modifications. You see what I did there? I said interesting 😉

First off, there are over 100 photos on the Zillow Page. Second, Zillow says it’s worth $1,007,356. Third, Realist says it’s worth $1,108,400 with a range of $919,972 – $1,296,828. I disagree with both…

I’m using the following numbers for my calculations.

ARV: $940,000
Rehab: $155,000
Asking: $602,000 OBO

As far as the rehab goes, it’s pretty much a dealer’s choice. If I rehab it, here is my budget:

Foundation: $7,500 (Needs exterior piers on three sides and it’s big)
Painting: $17,500 (a lot of wood work, trim, and new drywall. Also exterior siding)
Framing: $10,000 (several walls I would open up to reduce choppy flow)
Demo: $10,000 (I would demolish the new detached garage and un-convert the original garage. This is mainly to improve flow and add yard space The budget would also allow me to demolish the driveway and carport on the East side of the property)
Drywall, TB&T: $10,000 (The cedar closets are a bit overkill in my opinion)
Trash: $3,000
Landscaping: $5,000
Flooring: $25,000 (I estimate approximately 4,000 feet of flooring after garage restoration)
Cabinets: $15,000
Countertops: $15,000
Light Fixtures: $5,000
Plumbing Fixtures: $5,000
Tile and Masonry: $7,000
Appliances: $5,000
Pool Remodel: $10,000
Miscellaneous: $5,000

Total Budget: $155,000 (I think this is high

I think that leaves you with a 4,000 SqFt home that should be valued at $235/ft. I made sure to exclude all homes East of Hillcrest and remove the creek front properties. You might justify closer to $300/ft. It really depends on the designer touches.

Currently a five bedroom, five bath home with a two car detached garage and a two car carport. The home is about 200 sq. ft. (4,467 sq. ft.) larger than Dallas County records show. The 1,000 sq. ft. garage is attached by a paved and covered breezeway.

All the iron sewer pipes were replaced by PVC in 2007
We have replaced all the three zones of AC – heating in the last six years.
All the stacks were replaced in 2012.
Tim Speaks replaced our roof twice in 2012 and 2013 ( two hail storms). All the skylights and the gutters were replaced then.
Engineered steel support beam was installed in 2012 – the previous owner had removed a support post when she installed the pool – it sagged of course – so we invested about $12k fixing that structural issue.
New water heaters in 2020. I am an engineer and like my home in shape – have all documents for your review. We have the house packed so it is pretty bare.
There are seven wall in closets (one a full room) all cedar lined floor to ceiling.
Two floor safes.
Hidden Safe room.

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