Property Description:

This house is located in the Memorial Valley subdivision of Spring Branch ISD. It's a good home, with a great floor plan and a good pool. In the immediate vicinity you have very similar sized houses that are zoned to the same schools that we're using as comps. Our comps' values are in the $650k-$700k range depending on condition. This home sits very close to the Longpoint Fault Line. This means that our house is more susceptible to foundation issues, and the re-sell price could be affected after you finish the rehab. We handled this issue by finding the home's ARV ($685k in this case) and deducting $100k in value from it. That's how we came up with our final ARV of $585k. Regarding the home's foundation, you will see and feel that it is not bad at all, and the current owner only had to remediate the foundation once in his 27 years of occupancy. We have a foundation bid from Passini Foundation for $2900. The house is very well taken care of but outdated. The only reason this house has so much rehab is because it's a reasonable size, and it's a very affluent neighborhood that requires high-end finishes. Roof is good, but we'll need some foundation, HVAC, pool work, and cosmetics to get it up to par. Price: $400k (cheapest thing to sell here in the last 12 months is $475k!!!)