This is an offer to assign our contract for the property located at 623 Blue Grass Dr, Dallas, TX 75211. This house is a three bedroom, two bath, two car garage brick home. I think it’s best use is as an owner finance property. Other than that, I believe it makes a good flip and potential rental. As a flip, you should be able to make about $20,000 (if you pay all cash). As a rental, I think it comes in as about a 12% gross yield. Here is a video, the numbers are below:
This property is being offered to real estate investors who are looking for a potential investment property.
The Address is:
623 Blue Grass Dr
Dallas, TX 75211
$114,000 NOW $104,000
Estimated rehab: $30,000
Estimated After Repaired Value: $180,000
Repairs NOT needed: The water heater, HVAC, electrical, and roof seem to be in working order and to have many years left on their life.
- Sewer: The branch line of the sewer system servicing the kitchen and laundry room has been rerouted along the outside of the home and tied into the main line. We believe the remaining pipe under the slab needs to be replaced. It’s no more 25 feet of line replacement in our estimation.
- Foundation: There appears to be perimeter settling. I estimate less than 15 piers.
- Driveway: There is a section of the driveway that needs to be removed (gravel at the moment) and re-poured.
- Fence: I would install a wood privacy fence in the back of the property.
- Cosmetics: The home needs a full cosmetic update. There is a moderate amount of texture to be repaired, and a lot of wallpaper/paneling to be removed. The entire house needs to be painted. I would paint the kitchen cabinets, and replace both vanities only if I were flipping it. All of the flooring needs to be replaced.
I AM A REAL ESTATE INVESTOR, I HAVE PLACED THE FOLLOWING PROPERTY UNDER CONTRACT TO PURCHASE AND MAY SELL OR ASSIGN MY EQUITABLE INTEREST IN THE PROPERTY RATHER THAN TAKE TITLE TO THE PROPERTY. I DO NOT HAVE LEGAL TITLE TO THE REAL PROPERTY. I AM NOT A LICENSED REAL ESTATE AGENT IN THE STATE OF TEXAS ENTERING INTO OR HAVE ENTERED INTO THIS CONTRACT TO PURCHASE REAL PROPERTY ON MY OWN BEHALF, AND THIS ASSIGNMENT IS IN NO WAY AFFILIATED WITH THE PRACTICE OF REAL ESTATE BROKERAGE.