Super Cheap Fishing Cabin

Emory, Texas
Steamboat Shores

Listings Stats

Published: Dec 12, 2023
Last Edited: Mar 29, 2024
Listing Type: Wholesale
Listing Status: Available
Number of Views: 267
Days On Flippery: 159
Number of Favorites: 0

The Numbers

Buy It Now Price: $30,000
Asking Price ($): $35,000
After Repair Value: $150,696
Est. Cost of Repairs: $0.00
Est. Gross Profit: $115,696
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Description of Property

Is a 3 bed 1 bath house with covered parking in a gated subdivision.

Built in 1952
1288 sq ft

Subdivision has 2 pools, pavilion, and playgrounds, private boat entrance and fishing pier.

This house is not directly on the water. Located near FAMOUS Lake Fork!!!

Rentals of any length are not allowed, however only 30% of the subdivision lives there full time, and your friends and family can go visit you.

Description of Repairs

House is outdated and needs the roof and floor repaired, sheetrock, and exterior siding. Foundation was recently leveled, all pex plumbing in the house, New Window Units.
  • Access:
    Message Me
  • Build Year:
    1952
  • Home Area(sqft):
    1,288
  • Bedrooms:
    3
  • Heating:
    Unknown
  • Fireplace:
    No
  • Water:
    City
  • Property Type:
    Single Family Residence
  • Occupancy:
    Owner Occupied
  • Lot Size(acres):
    5619.24
  • Bathrooms:
    1
  • Cooling:
    Window Unit(s)
  • Foundation:
    Crawl Space
  • Sewer:
    Septic
  • Parking:
    Carport

The Numbers

  • Asking Price ($):
    $35,000
  • After Repair Value:
    $150,696
  • ARV Price/Sq Ft:
    $117.00
  • Est. Gross Profit/Equity:
    $115,696
  • Price Negotiable?:
  • Purchase Option:
    Cash,
  • Rental Restrictions:
    Yes
  • HOA:
    Yes
  • HOA Amount:
    $0.00
  • Earnest Money Deposit:
    $3,000

Comparables

  • Comp 1

    Full Address:
    151 Rs Private Rd #7712, Emory, TX 75440
    Distance from Listing Property (mi):
    .2
    Sale Price:
    $129,900
    Sale Date:
    June 10, 2022

  • Comp 2

    Full Address:
    212 Private Road 7721, Emory, TX 75440
    Distance from Listing Property (mi):
    .2
    Sale Price:
    $125,000
    Sale Date:
    May 3, 2022

  • Comp 3

    Full Address:
    409 Private Road 7703, Emory, TX 75440
    Distance from Listing Property (mi):
    .3
    Sale Price:
    $155,000
    Sale Date:
    May 17, 2023

Property Inspection

Location

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