***665 W Cedar St, Hurst Tx 76053, Tarrant County
ARV-- $158,000
Estimated Market Rent- $1,350
Estimated Repairs- NONE
Current Mo to Mo rent- $1,075
Estimated cosmetic repairs for rehab- 18,500
Price- $116,000
***- I renegotiated with the seller and this is what we are offering the property at currently. ORIGINAL ask was 130k, price reduction by 14,000 to asking $116,000.
3BR/1 Full Bath/ 1 Half Bath
Living SF-1512SF
Lot SF- 8296
Foundation- Slab
Yr Built- 1960
2 Car Garage
There are two options , possibly 3 with this property. It has a tenant in place that is currently month to month. The tenant really wants to stay and resign a new lease. Tenant has a great payment history and has been at the property for 2+ years. Currently there are no repairs needed for this tenant to stay in place. Instant cash flow property!
The second option would be to do a light cosmetic rehab where I would convert the half bath to a full bath and market the rental as a 3/2 with other light cosmetic updates. The rental comps fully support a $1350 rental. The tile surround in one of the baths could be updated, new carpet, and could add more counter space in the kitchen. $5000 would be more than enough to do a light rehab to get the 1350/mo.
Third option would be to look at it as a flip. If you could make the numbers work as a rehab, it would be great. All this would need is a light rehab on the interior ( bath updates, kitchen counters, bath counters, carpet, laminate, paint, all very cosmetic.. maybe some outdoor landscaping and possibly paint the brick and trim outside to make it stand out and pop. 18,500 would get you the rehab you needed to get the ARV.
OTHER NOTEWORTHY INFO:
Roof- in the process right now for new roof- Will have new roof by closing. Current roof is not leaking, but has hail damage and it is getting replaced this week.
HVAC- Replaced/NEW
NEW insulation in attic
NEW Electric Panel
French Drains added in backyard and sides of house
Sewer Service- New sewer service from the house to the main (60') replaced
Tile- new tile flooring recently installed-
VERY CLEAN!
** Contact me and i can send you pics and comps for the area**
Kelly Kovar, kkovardfd@gmail.com
214-632-0372
