Priced at $197,500 vs a $400K+ ARV if kept as multi-family ($200K+ spread), about $95/sf. Two units at $1,800 rent for $3,600/mo. Appraised at $350K+ in 2024 by a licensed appraiser.
This is an off-market 4 bed / 2 bath, 2,089 sf, built in 1953 on a 6,600 sf lot with an attached 1-car garage in Greenway Park, near Hobby Airport. A brand new roof is already on, and a partial rehab is underway. The previous owner was partway through a duplex conversion.
Not converted? An investor can still exit at $335K+ on a traditional flip. About $65K rehab to finish. Houston ISD. First come, first serve.
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