$1,894,000 · HARRIS COUNTY, SPRING, TX 77389
Works for flippers · Landlords would lose money

Available

$1,894,000Asking price

6 bd · 7.5 ba · 9,655 sq ft · built 1999

HARRIS COUNTY, SPRING, TX 77389

1 view · listed 11 hours ago

Works for flippers

Landlords would lose money

The Numbers

Flip

Rental

Sells for (comps’ value)The seller says $2,550,000: $2,723,000
Asking price: −$1,894,000
RepairsMiddle of the seller’s $70,000 – $73,000. Ours: $0 – $73,000: −$71,500
Loan, holding, closing20% down, 12% interest, 2 points, 89 days: −$213,149
Profit20.0% of ARV · flippers want 10%+: $544,351
Works

Works for a flipper up to $2,148,000. On the seller’s $2,550,000 it would show $376,541 profit.

2ND CHANCE HOMEBUYING PROGRAM, INC.

Sharon LaShawn Jones

No reviews yet

Comps

Sales

Rents

ARV $2,550,000

Seller’s own value

The seller’s 5 picked sales support $2,723,000, which is $173,000 more.

The sales behind this value are shown to members.

ARV $2,550,000

Seller’s own value

The seller’s 5 picked sales support $2,723,000, which is $173,000 more.

The sales behind this value are shown to members.

2ND CHANCE HOMEBUYING PROGRAM, INC.

Sharon LaShawn Jones

No reviews yet

Seller Description

Spring, TX — 6 bed / 6 full + 3 half bath SFH (9,655 sf) on 0.96 acres. ARV $2,550,000 with a 26% discount to ARV at $1,894,000, leaving an estimated $376,541 flip profit on this spread. Flip numbers: ARV $2,550,000; buy at $1,894,000 for a 26% discount below ARV. Projected flip profit is $376,541 with an estimated 17% ROI (15% margin) based on the provided analysis. Rental numbers: estimated rent $16,850/month with projected monthly cash flow of $1,921. Pro forma cap rate is 7.6% and cash-on-cash return is 6.1% (GRM 9.4), based on 8 rent comps and assumptions of 20% down, 7% rate, 30-year amortization, 20% expenses, and 8% vacancy. Condition is noted as turnkey, with a budgeted value-add of about $70,000–$73,000 to support the path to ARV. Cash buyers preferred with a quick close.