The property will take a little bit of everything to reach the top of the market. Oak Forest is booming with new construction and is a highly sought-after area of Houston.
This property can be renovated at its current footprint with the option of adding back the garage that once was. This may only result in a small change in overall after-repair value (ARV) but many buyers like to have a garage which may result in an ever lower days on market (DOM). Overall, days on market have been very low with a sales comparable average of only seven and one-half (7.5 ) days with one property only being on the market for one (1) day.
For ambitious investors who don’t mind spending a few extra months on this project, additional square footage could be added-on, to potentially amplify the profits even more. Some area homes with more square footage are selling right at $600,000. This could potentially raise profits to over $300,000!
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