🏠🔌. 5110 Longmeadow St, Houston, TX 77033 sits in the highly sought after South Park area. It’s 2 bed/1 bath home, built in 1950 & offers 1,122 sq ft of living space with a 7,040 sq. ft. lot, offering ample room if you opt for an addition. As it sits now it just needs cosmetic updates and to be finished. The previous owner had completed nearly 80% of the rehab before a personal family situation required their support. The garage has already been converted and by adding a wall and a standup-shower, this easily becomes a 3/2. This is an exceptional chance for a savvy investor to capitalize on a quick flip or long-term rental. The savvy investor will appreciate the value of already having demo, haul off, and 80% of repairs completed. That means that holding costs will be greatly reduced as well! With it’s close proximity to the Medical Center, Hobby Airport, and downtown, this properties’ central location is undoubtedly what contributes to the high demand regardless of whether they’ve been updated! Call to schedule a walk through and for more information.
💲 Price: $119,999 📈 ARV: $185,000 |
🛠️ Estimated Repairs: $20,000-$24,000 (Heavy lifting already completed)
🛏️ 2 Bedrooms (Easily Convertible to 3) | 🛁 1 Bathroom | 📐 1,122 Sq.Ft.
Key Features
•80% Rehab Completed: Majority of the work is done, allowing for a quicker turnaround.
•Easy Add-On Potential: Plans are available to add a second bathroom with a stand-up shower, further enhancing the layout.
•Minimal Updates Needed: Just a few finishing touches to maximize resale potential.
•ARV of $185,000 with strong comps showing a high price-per-square-foot value at $164.9.
•Holding Period: Expected 1-month hold, reducing carry costs and speeding up your ROI.
This property is primed for a profitable flip or rental. Don’t miss out—contact us today for a showing and make this your next investment win!
Why This Location Stands Out
•Quick access to major highways, making commutes to downtown Houston and the Medical Center effortless.
•Surrounded by local schools, parks, and shopping, which are attractive to potential buyers or renters.
•Situated in an established neighborhood with steady market demand, making it a hot spot for investors.
Top Comparable Properties
o Sold For: $209,000
o Sale Date: October 23rd, 2024
o Notes: 2 bed 1 bath, ONLY 750 sqft! Built in 1955.
o Distance: 0.3 miles
o Sold For: $200,000
o Sale Date: May 30th , 2024
o Notes: 3 beds, 2 baths, 1,082 sqft., built in 1950.
o Distance: 0.4 miles
o Sold For: $247,000 in just 12 days! (listed for $239,000)
o Sale Date: June 21st , 2024
o Notes: 3 beds, 2 baths, 1,546 sqft., built in 1955.
o Distance: 0.1 miles
o Sold For: $180,000
o Sale Date: July 26th, 2024
o Notes: 3 beds, 2 baths, 1,101 sqft., built in 1977
o Distance: 0.3 miles
o Sold For: $199,000
o Sale Date: May 24th, 2024
o Notes: 3 bed/2 bath, 1,118 sqft, built in 1947
o Distance: 0.4 miles
🔑 ACCESS: THIS IS A FIRST COME FIRST SERVE OPPORTUNITY SO CALL ASAP TO SCHEDULE A WALK-THROUGH. PLEASE BE PREPARED TO PRESENT CURRENT PROOF OF FUNDS.
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