3 Beds
2 Baths
1,852 SqFt
3 Beds
2 Baths
1,852 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,852 sqft
Price per Sqft $354
Subdivision Caruth Terrace
MLS Listing ID 20960817
Style Traditional
Bedrooms 3
Full Baths 2
HOA Y/N None
Year Built 1959
Annual Tax Amount $9,455
Lot Size 9,452 Sqft
Acres 0.217
Property Sub-Type Single Family Residence
Property Description
9450sf lot
BRING YOUR VISION!! Exceptional opportunity in sought-after Caruth Terrace neighborhood within the Mockingbird Elementary School district. Remodel began, including LR-DN-DEN load bearing walls removed; Windows replaced; floors sanded. Multiple remodel-new build projects currently underway in neighborhood. Selling AS-IS to visionary buyer with 3 potential finish-out opportunities:
1) Remodel as-is plus add utility room to garage (+120sf) plus finish-out detached bonus room in backyard (150sf).
a. $657k purchase
b. $150k remodel costs (per contractor estimate)
c. $807k total basis
d. $880k Value at market rate at $425 per sf with 2000sf + 150sf bonus room
e. Net equity: $73k
2) #1 above plus add 2nd floor of 1,000sf (see 6278 Saratoga Cir example)
a. $807k cost from option #1
b. $200k 2nd floor addition @ $200 per sf
c. $1007k total basis
d. $1.3mm Value @$425 per sf of 3,000sf
e. Net equity: $293k
3) Teardown and build new (see 6254 Sudbury Ln example)
a. $657k purchase
b. $850k build cost @$200per sf; 4250sf home at 9450sf lot x 45 percent coverage
c. $1.507mm total basis
d. $1.8mm Value @$425 per sf of 4250sf
e. Net equity: $293k
Location
State TX
County Dallas
Direction TX-75 to E Mockingbird Ln to Skillman St to Woodcrest Ln to Saratoga Cir
Rooms
Dining Room 1
Interior
Interior Features Other
Heating Central
Cooling Central Air
Flooring Hardwood
Fireplaces Number 1
Fireplaces Type Brick, Living Room
Appliance Gas Range, Refrigerator
Heat Source Central
Exterior
Exterior Feature Covered Patio/Porch
Garage Spaces 2.0
Fence Chain Link, Wood
Utilities Available City Sewer, City Water
Roof Type Composition
Total Parking Spaces 2
Garage Yes
Building
Story One
Foundation Slab
Level or Stories One
Structure Type Brick
Schools
Elementary Schools Mockingbird
Middle Schools Long
High Schools Woodrow Wilson
School District Dallas Isd
Others
Ownership Paul Wildberger
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/20960817
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Agent | License ID: 0725960
4281 Esplanade Drive, Unit 203, Flowermound, TX, 75028, United States